Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to Howard,Bhoddhisatva,penym,Anonymous,Rhyd6, for Donating to support the site

Where to start?

Help and discussions for strategies to get out of debt
Posts: 1
Joined: February 4th, 2020, 6:28 pm
Been thanked: 2 times

Where to start?


Postby ChelseaB26 » February 4th, 2020, 6:34 pm

Me and my husband have two children together (5 and 11 weeks) and have just seperated for various reasons. However, he's got himself into debt. I am unsure how much though. I really want to help him but have no idea where to even start or what to do. He has loans, credit cards, an overdraft, car finance.. he is at breaking point emotionally, mentally and physically. It's hard to see. He is unable to pay for his car insurance or his MOT and he needs his car for work. I am unable to help financially as i'm currently on maternity leave and paying for a house.

Any advice would be amazing!

Lemon Quarter
Posts: 1861
Joined: November 4th, 2016, 10:00 am
Has thanked: 97 times
Been thanked: 349 times

Re: Where to start?


Postby gryffron » February 5th, 2020, 12:23 pm

Hi Chelsea, and welcome.

There are some great resources online for debt advice such as debtcamel run by a former Fool.

Most important, you cannot be held responsible for his debts. DON'T under any circumstances, offer to pay his debts. You would not be helping him, you would only be helping his creditors.

It is well worth clearly separating your finances, to avoid yourself being targeted by creditors. Close any joint accounts. Does he have any financial interest in the house? Joint owners, tenants in common, name on the mortgage?


Return to “Dealing with Debt”

Who is online

Users browsing this forum: No registered users and 1 guest