OK Brace Yourselves!!

[Miss Poohs]

I posted earlier on today but it was a bit half baked - so I'll try and start from the begining this time.

 

My DH has gotten into quite a financial mess.

 

I only found out about it in April 2008 - about 3 weeks after my mum died, so it was all a tremendous shock.

 

DH had been accumulating debt for quite sometime - to tune of about £100,000 - mainly cards, loans and a secured loan on a property he owns jointly with someone else.

 

Obviously I went ballistic - and there were many, many times I decided to leave, but we have a young son and thinking of him decided to try and work at it to make things work as a family.

 

He has a well enough paid job £35,000 - £40,000 a yr, although this hasn't always been the case.

 

I work part-time too, but none of the debt is in my name, so I can't be held responsible for that. The only joint financial agreement we have is our mortgage £63,000.

 

When I found out about the debt I told him he had to deal with it and to stop putting his head in the sand - incidentally I only found out because he was getting phone calls, to ask why things hadn't been paid.

 

So...... I went on the AIB website and found a council approved debt advisor who came to the house, lovely guy, he worked through everything and as we were trying to protect two properties and DH had a bee in his bonnet about paying it all back we went for a DAS.

 

Due to the amount of debt it was touch and go if the AIB would approve him but low and behold the DAS went through £540 per month for the next 13yrs!!!

 

I was dubious at the time, as there wasn't much slack and with the best will in world sh1t happens, and the few times it did my dear old dad was left to bail us out.

 

We're over a yr down the line with the DAS and we're mega struggling.

 

We had the advisor (same guy) come out again and we discussed a few alternatives.

 

I want to keep our house for our sons sake (I am prepared to buy the BI). DHs other house is jointly owned between him and his elderly Dragon - opps sorry Mother. She's nearly 85 and not in the best of health either, so we can't unroot her.

 

We talked TDs and BR but both put the properties at risk - I just don't know what to consider.

 

I'd be grateful of your opinions, and if I've missed anything out please ask.

 

Ta

 

Miss P

[IdaInFife]

As you have aready agreed the DAS then there is nt many optiosn left for you, any other option or non pament will be putting ris on the properties.

 

if you are struggling with the payments, the DAS agent should only be asking for payment that you can afford with the info you have gave. if your circumstances have changed them they should be altering the payments.

 

The only thing i can suggest at this stage is to check if there are any accounts that yuo can reaclaim any charges or PPI to reduce the amount

 

ida x