A short but long story, think i have posted in the right place?

My wife and myself divoced earlier this year and though i was fortunate to get custody of my daughter, i have been left with considerable debt and two assets.

Since then I have been fortunate to meet the love of my life and she has been extreamly supportive both emotionally and financially and without her i would not have survived however, i now need to move forward with my life and the debts I have.

in short I have taken on 43k of credit card debts and one U/s loan of 22K.

In part of the settlement, I have a property to sell proberbly in about 11 months time which subject to current rough market will hopefully realise about £20K which will be a great help, i would sell straight away but the penalties for selling equate to about 9K and tennents in for a least a further 5 months. I also live in our home which has about £40K equity, that though could be sold I would like to remortgage at a later date to clear all the credit card debt dependant on the market.

Allthough i am currently meeting the minimun repayments, (my other half supports me by 60%! of this (yes i am lucky:-)))the debt is not reducing as the interest rates have been hiked up and up and up though i have not missed any payments (yet) it is getting to the point where it is putting a strain on our relationship.

The Question, I can survive short term with the support i have but wondered if anyone has been successful in lowering their interest rates on their credit cards to enable to to repay the debt, abeit slowly without defulting, i really dont want to do this as wanting to remortgege to clear wihen the fix rates run off in october next year, though current think this is the only option i may have.

any suggestions are welcome, thank you

Hi Crisis, and welcome to CAG

Sorry for your own personal circumstances but as regards the credit crunch and our own situations, we are all in the same boat here. Your best bet is to read as much as you can in each individual credit card/bank post, it can seem a long trawl, and yes, it takes a few hours each day/night, but you will find a lot of answers there from a lot of people in the same boat as you. When you are ready, post your own thread in the relevant section for each bank, and you will be inundated with sound advice! Good Luck!