Starting the process advise - SOA

bitingthebullet

Hi, I have been lurking on here and reading all the advice and experiences of DMP and am slowly accepting that I need to do one for myself.
My question is, my husband and I have a joint mortgage and joint secured loan.  Every part of our finances we manage jointly, from bank accounts to household bills.  We have credit cards and loans separately in our own names.
So my question is, what is the best way to separate our household bills / expenditure / savings so that I can have a clear SOA? Anything I need to consider?  I earn a little more than him.
Lastly, will my credit files going into default affect his chances of getting for example a car on finance if he has a 'clean' file?
Many thanks
ps I am here because I have been trying to borrow my way out of debt by consolidating.  The credit cards coming off 0% finance have led me to the end of road so this feels my only option now.

fatbelly

If you are preparing a soa for us, best to do it as a joint one

Your credit files will be linked if there is one joint financial product, and it sounds like you have several.

Car finance is not so heavily dependent on credit history, as there is an asset involved, albeit a rapidly depreciating one.

This is an expensive route into car ownership and so moving forward he needs to wean himself off finance.

RAS

Do a joint SOA, but please mark debts as mine, his, joint, so we can see what needs separating?