91k in Debt and don’t know where to turn
Hi all, hope you are all well. I have found this forum and have been reading some stuff which have helped me a little bit. As you can see from the title I am in huge debt 7 credit cards practically maxed out ( 42k ish)5 loans and two overdrafts. I have a house worth 250k with £168k left on the mortgage. It was a build up from Covid/living on ccs etc getting loans to pay off then getting back into cc debt by overspending massively. I have a healthy credit score but big utilisation so no one will touch me for a balance transfer etc. I got a job 3 years which means working away from my family in another country which took a lot of money to get to and from home to work for flights/trains every weekend and to get set up with accommodation. Z
Finally after 3 years I have just got a promotion and start my job in march on 99k a year with my overtime and expenses finally paid. My wife only knows about 38k of the debt which is making me absolutely ill, I feel like and absolute failure, a bad husband, a bad dad etc. I have thought a few times would it just be easier if i wasn’t here 😢 but id never ever do anything like that after seeing the aftermath of something similar to my cousins family. I know she will probably up and leave when/if she finds out and that’s what’s breaking me. I’ve been so stupid.
My question is what should I do? I have stopped using all forms of credit. And have been in contact with Payplan and they have offered me a DMP 1900 per month x4 years. Obviously I know my credit would be wrecked but I was wondering if I should ask all of my creditors for a 2-3 month payment holiday to get an emergency fund together and pay off all my low debts in this time then attack the debt when I start my new position.
Apologies for the long explanation but I don’t know where to turn at the moment.
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