Slinking back, tail between legs

-taff

In your position being a homewoner I would be thinking about debt remedies for him too. I know that this is an added worry but if your husband continues to not address his debts, what are the chances that he would go bankrupt? If that happens, you could lose your house if the equity of his share is used at the end of the years period.
I'm sorry to have added another worry for you, and complately understand why you would want to sepaate yourself from his inaction,

but it's something to consider...

D_M_E

Dual fuel - as you have put on extra clothing, try turning your thermostat down at least 2 degrees. Also, check your bills - read the meters and see if your latest bill is based on actual readings, not estimates.

Water - is it a bill based on an estimate or an actual meter reading? Has anyone read the meter and compared the reading to the bill?

Is your iphone 5 on an old contract which has expired - e.g. did you take it out years ago for say 18 months at £xx per month and that ended months ago? If so then complain to your provider as you should not now be paying for the phone again, just your airtime and calls, not the phone as well - been a supercomplaint about this to the regulators.

CapricornLass

Hiya - Mortgage protection - you say that it has critical illness cover included? If so, and if it covers both of you, then that is why your premium is so high.
If you do go ahead and cancel, you should replace it with a term policy which pays out on your death. There are mortgage cover plans which reduce in cover, but I would think about taking out a level term insurance for the rest of your mortgage plan and for at least the amount outstanding. If you die, the mortgage will hopefully be less, and any leftover money could be shared out between your children. (May have to specify this in a will?) Again it won't pay you anything at the end if you are still alive, but it should be substantially cheaper.
I'm not a qualified financial advisor, though, so it would be worth talking this over with an Independent Financial Advisor first. I found mine through someone recommending him to me, so you could try asking around.

CapricornLass

Meant to say, I can sympathise with you having a husband that refuses to discuss money. Mine's the same - his excuse is that it makes him depressed.

Red-Squirrel_2

Sorry for the personal question, but are you planning to stay with your husband or will you be separating?

enthusiasticsaver

I am not sure I would go down the IVA route as you have a house. Even if there is not much equity now there may be in the future. I think an IVA is more rigid than a DMP if you miss a payment but others would better advise on that.


I think you are doing the right thing. Do stepchange say if you do it just in your name you should separate your finances from your husband and do away with a joint account?

sourcrates

There’s nothing to stop you starting out on a debt management plan, see how it goes, you can always change your mind at a later date.

You must be proactive though, and keep on at your creditors to stop charging interest, I would not dismiss an IVA out of hand, they were specifically designed for homeowners you see, as I said before, you get legal protection from your creditors, so the house is 100% safe.

If you have been in an IVA for 4 years, it’s extremely unlikely you will get a remortgage offer when you apply, another year of payments is more common.

It’s up to you, start out on the DMP see how things go.

Luckystepho

I am sure nobody would suggest you get rid of your dogs, they are a part of your family!

System

Luckystepho wrote: »

I am sure nobody would suggest you get rid of your dogs, they are a part of your family!

My parents have always had several dogs, often running into double figures, but have a combined income less than the national average for a single person and are now on state pension. They've been bankrupt 3 times and regularly have multiple vet bills of £100s at a time in any given year and are again in so much debt they really should declare again. If you took out the cost of the dogs they'd have enough to live on. Worst part is they don't really get any enjoyment out of them anymore as they're getting on in years so can no longer take out half a dozen for a walk, they spend much of their time clearing up after them and repairing the damage they do to the property they rent. The dogs suffer, they suffer but unfortunately its become a habit and one which they're unlikely to ever break.

itchyfeet123

Shadow14uk wrote: »

My personal outgoings/incomings out from my account
Incoming wage £1119.35
Child benefit: 137.60

Outgoing

Mobile£53.00
Joint account£700.00
Clothing budget £60.00 (me n 2 kids)
School dinners£40.00
Emergency savings£50.00
Fuel (Diesel)£50.00
Hair£16.00

£969 00 total

Any reason clothes for the kids and school dinners are paid for out of your income rather than joint income? Does your husband pay other, equivalent kid-related expenses?