Newbie here

Sophie8916

I am embarrassed but here goes...

I have a mortgage to which 2 years ago I remortgaged to clear my debts.

After a bereavement they’ve built up, to the tune of £15,000 (credit cards). I want to be debt free without the shame of telling my partner, I want to be independent.

Any tips? After bills I have a disposable income of £1048 per month, how much would you put towards clearing debt?

Any inspiration and non judgement welcome, I want a light at the end of the tunnel so I can start saving for a family home with my partner.

Karonher

I would build up an emergency fund of £1000 then put almost everything to the debt for a few months. Nothing wrong with having a bit of money for yourself but keep it as low as possible.

In 6 months time you could have halved the debt. Is there a reason you don't want to tell your partner other than embarrassment? If they could help you even by way of a loan to allow you to pay off a lump sum or adding to what you pay each month with the intention of you paying them back.

Surely the reason for the debt is not one they would complain about. Is that all the money was spent on? If not could you sell anything that you bought?

fatbelly

Sophie8916 wrote: »

I am embarrassed but here goes...

I have a mortgage to which 2 years ago I remortgaged to clear my debts.

After a bereavement they’ve built up, to the tune of £15,000 (credit cards). I want to be debt free without the shame of telling my partner, I want to be independent.

Any tips? After bills I have a disposable income of £1048 per month, how much would you put towards clearing debt?

Any inspiration and non judgement welcome, I want a light at the end of the tunnel so I can start saving for a family home with my partner.

Sometimes you have to make a mistake in order to properly learn from it.

We can say repeatedly 'debt consolidation doesn't work' and people counter that mathematically it does. But you have experienced why it doesn't work.

We can give more detail if you post a statement of affairs

https://www.lemonfool.co.uk/financecalculators/soa.php

but the principles will be to get interest as low as possible and liberate as much money to throw at them as possible.

On the first, provided your credit history is OK, you should be able to get most of that 15k on to 0% interest by balance transfers

https://www.moneysavingexpert.com/credit-cards/balance-transfer-credit-cards/