Am I going to be arrested?

Kevicho

Hi, not sure if anyone has mentioned this yet (i did read the other thread, more on that in a little while) but im sure that with any debt management plan, this sort of windfall has to be presented to the dmp compny for advice on what to do with it.

I think that your thread on the other forum, pretty much put paid to ideas of going down the BTL route, and i think that was very good advice, I can see price drops in the next year or so, but thats just my crystal ball speaking, not any professional advice

Seriously though i think you should use all of the money to pay off whatever debts you can, i dont blame any of the creditors for refusing the offer, but any debt that is of credit card and not loan i would pay off in full, and then id get advice on the remaining debts.

I think you should post an SOA on here with a list of the debts to see whats payable early, remember you will be able to increase your other payments with the monthly payments you no longer have to pay on the cards you clear.

Just one final point in the way you have structured youyr debt, having all the debt in your name, and the investments in your husbands name, while i doubt is illegal, i would imagine that the loans have paid for the investments
so from a moral point of view, you could have loaned the money with no intention of paying the full amount back, which i think is why most people on that board were agitated, and i can see why.

I think a lot of people come on this board, and dont play the game in this way, anything they can do to become debt free they will do, and if they sell something to pay off debt, then they invariably will.

You are also in the position where if the hubbie decides to disapear with all the assets, you will be left with the debts, and really do you want to be in that position?

sammiboo

Some people can be nasty. Although i did think there was some good advice on there, no need to be nasty and to give out the wrong info :rolleyes:

I wouldnt worry. When my OH posted on another of the boards asking for advice for a joint account (specified that it wouldnt have an overdaft and would be used soley for paying joint bills)

Someone posted that the GF (me) would run up loads of debt and do a runner charming. it bugged me that my OH had stated that there was no overdraft facility etc. Some people just see the bad in everything i suppose and live life on the cautious side

Pobby

reformedEffortMaker wrote: »

Penny Racer-for future reference, the posters on that forum are some of the most critical and obnoxious on this whole site.
Mention the phrases 'buy-to-let', 'right-to-buy' or 'when house prices rise' and you will get shot down immediately. Please dont take any of it too personally.

Awwww,come on,I post on both boards!!!!:j:rotfl::rotfl::rotfl:

lynzpower

black-saturn wrote: »

Hey PR, I've been flamed on almost every board on MSE. I think I'm about the most unpopular person on here at the moment. It's usually people who jump to conclusions and/or don't have the right facts. But I don't let it get to me and I'm starting to quite enjoy it now.

Oh no squat now is WAY more unpopular than you sugar