Seriously need to take action before we lose everything

kimwp

Impressive sleuthing!

katsu

gizmo111 said:

OP's wife was on another forum (exact same SOA) and was advised to remortgage/second charge to clear the debt ..............  hope they didn't take that advice. 

And this is exactly what we are here for. Proper advice. It makes me so cross/sad to hear a person told that putting 90k of debt into their mortgage is:
1- a good idea and
2 - clearing their debt

We know moving debt isn't clearing it. 

I hope OP and his wife achieve DF and a mindset change for future happiness, whatever decision they've taken now. 

otb666

i hope they dont go down the remortgaging route as we did this several times and does not change your spending habits.  Thankfully we moved to a cheaper area and after a decade got redundancies which cleared the debt. Hanging painfully around our necks. We now use a whiteboard to show our monthly spends and will simply live within our means.  It is hard though when the children are young and when you are trying to keep up with everything

Stateofart

Firstly, as Dave Ramsey would say "you've got a big hole (debt) but you've also big shovel (income)".  Don't put unsecured debt into secured debt is my first point.  Also, you've clearly been living way beyond your means so just spend what you need to and bank the rest.  Start with the smallest debts and start knocking them out one by one.  Shouldn't take more than three years at a push?

[Deleted User]

How are you? How are your plans progressing?

Sly72

katsu said:

gizmo111 said:

OP's wife was on another forum (exact same SOA) and was advised to remortgage/second charge to clear the debt ..............  hope they didn't take that advice. 

And this is exactly what we are here for. Proper advice. It makes me so cross/sad to hear a person told that putting 90k of debt into their mortgage is:
1- a good idea and
2 - clearing their debt

We know moving debt isn't clearing it. 

I hope OP and his wife achieve DF and a mindset change for future happiness, whatever decision they've taken now. 

which forum any link?