Help Needed - A overwhelmed mid-20's female

enthusiasticsaver

I don't think that just sitting back and hoping the debts to disappear from your record is the choice I would make.

Are you in a position to make payments? I think I would rather take control and either enter a DMP if you have no current assets or agree a repayment schedule. Otherwise you will be living on a knife edge for the next 6 years that none of these creditors decide to take you to court and get a CCJ which will cost you more and that will stay on your record for a further 6 years and the same for any other creditors. In the meantime you are unable to move forward and are stuck in limbo waiting for your creditors to decide what to do. Tell your partner and sort it out by either contacting your creditors or speak to stepchange about a DMP or bankruptcy. That is my advice.

CurlySue2017

I also read it as trying to avoid until 6 years is up, if that is what you were thinking I would say please don't do this.

I am the OH of someone who was very silly when they were younger and did exactly this.....and now many years later he has had to apply for a DRO which has affected our present and our futuure massively....and not just his but mine too. He never lied to me about it, I knew that he had been "irresponsible" (putting it mildly) in the past, but I never realised to what extent until all our plans suddenly came crashing down around us and he opened up about everything.

At the time I was mad as hell. I had always been so careful to protect my credit rating and keep on top of things and in truth I felt like throwing him out on the spot, but after some talking.....lots of talking!!!....I realised that he really was sorry about how stupid he had been in his younger years and that we all make mistakes right? There's no shame in that whatsoever!

You must tell your OH about this, I understand that it is scary and they may well be upset with you, but as another poster said, if your relationship has any future they will get over that and will understand and help you so that you can have a future together.

I think from what other posters have said so far it is pretty clear but just to re-itterate.....believe me, sitting back and just hoping to ride it out is not the answer, it will catch you up eventually and at that point, it is much more difficult to deal with.