SOA help please

mickyc79

I cant cancel the holiday as it's fully paid for and non-refundable...Was hoping to get through the holiday and then tackle the debt.

Might not have an option now...my cheap run about car has died on me and i cant afford to buy a replacement...My wife asking why don't i just go and get one on PCP again...Think i'll have to have that sit down chat tonight. Not looking forward to it, but if the bank can help us out with a remortgage we should be fine...if not....???

Mnd

It is a concern that you are thinking about extending your mortgage, as normally people on here will advise strongly against consolidation as you are likely to fall into the same trap again.
It also means that you are putting unsecured debt into secured against your home.
The other point is that although the interest payments are lower, they go on for so much longer that it works out more expensive in the long run.
Talk to your wife and take advice from the posters that will help you. Please don't rush into extending the mortgage.
If you cancel the holiday can you sell it, it is almost worth just writing it off as I know that spending money on holidays can add a fortune to the overall cost.

Good luck

pidge04

I have been thinking about you since I read your posts this weekend and I am really pleased to see that you are planning on talking to your wife about your family's debt today.
I think a lot of us would really caution against consolidation. That has been my pattern over the years and it has not worked at all. Tightening my belt and living a different sort of life and paying back the debt slowly but steadily does seem to be working though.
I completely understand that consolidation might feel like your only option right now but there are definitely other routes to follow.
I wish you all the very best. You have done well to come here. That is a really positive step.
I hope that you and your wife can strike up a good plan to work your way out of this and to a debt-free future!
It reads to me like you are doing a lot of things to try and make other people happy. Please know that at the end of the day, all they want and need is you.

mickyc79

Never had the chat with my wife...On a positive note though, i did land myself a new job with +20% pay increase which will help massively! The job is only 2 mins from my house, so petrol costs will be drastically reduced...should be +£350-£400 up a month, with a bonus on top a couple of times a year...

The debts are still there, but will comfortably be able to pay them and still have some spending money to have a life at least!

Will hold off worrying my wife about it until i've paid off a couple of the smaller cards at least.