12/18 month DMP?

Gemsy81

Is the money coming in a certainty, or hoped for?

dionysia

The obvious answer would seem to be to sell the second car immediately to get you through the next three months and the second house to get you through a few after that. Is there a reason you haven't done that yet?

andoui

Gemsy81 wrote: »

Is the money coming in a certainty, or hoped for?

yes it defiantly will do but i can't be 100% with the timing.

andoui

dionysia wrote: »

The obvious answer would seem to be to sell the second car immediately to get you through the next three months and the second house to get you through a few after that. Is there a reason you haven't done that yet?

Deninal i suppose if I'm being honest. Ive had it for 13 years..

dionysia

I have a lot of sympathy with denial! (Proof: my debt figures in my sig.) But it doesn't get us anywhere sadly. Your monthly numbers are pretty scary and the car could give you some breathing space (although if you're a bit emotional about the car you will need to be really realistic about how much it might fetch). Maybe try to think of it as the last act of service from your car to you after 13 good years?

National_Debtline

Hi andoui


I would say this is going to come down to a choice between selling assets to stay afloat while waiting for your investments to pay out, or keeping those assets and entering into arrangements with your creditors. These could reduce payments and freeze interest, but you'll take a hit on your credit file.


The one thing you probably don't want to do is sell the assets and still end up in a position where you can't afford your debts. You'll lose out on both fronts doing it that way. I would suggest getting in touch with one of the free debt advice agencies to talk through all of your options in more detail. Good luck with it all.


Susie
@natdebtline