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Hi I am hoping that someone can offer me some advice regarding debt and the best way forward.
Myself and my partner both got divorced from our previous marriages and although we have been together 4 years the divorces are fairly recent and we now want to know the best way to deal with our debts as we are struggling each month and have very little to live on.
Our debts total appx £27000 (mine are £6000 and my partners are £21000)
Mine are a mixture of credit cards, unsecured loans (payday - yes i am stupid !) and other minor credit facilities.
My partners are 2 credit card debts plus the likes of a next account.
We both work however pay isn't great and i am currently off sick and only receiving SSP for the next 2 months until i return to work after an operation.
The house we live in is owned outright by my other half - we could possibly look at getting a loan as the house is worth enough BUT our credit status is not great as we battled through 2 messy divorces.
Bankruptcy is not an option as we dont want to lose the house, is an IVA the best option and would we need to apply seperately ? this would not be an issue for us at all.
OR
Is a DMP the best option??
We probably have realistically £300 per month between us that we could afford to use to pay off debts...
Any advice or guidance is appreciated as we just need that little bit of help as once we can get this sorted then we can sleep easily.
Thanks in advance
Myself and my partner both got divorced from our previous marriages and although we have been together 4 years the divorces are fairly recent and we now want to know the best way to deal with our debts as we are struggling each month and have very little to live on.
Our debts total appx £27000 (mine are £6000 and my partners are £21000)
Mine are a mixture of credit cards, unsecured loans (payday - yes i am stupid !) and other minor credit facilities.
My partners are 2 credit card debts plus the likes of a next account.
We both work however pay isn't great and i am currently off sick and only receiving SSP for the next 2 months until i return to work after an operation.
The house we live in is owned outright by my other half - we could possibly look at getting a loan as the house is worth enough BUT our credit status is not great as we battled through 2 messy divorces.
Bankruptcy is not an option as we dont want to lose the house, is an IVA the best option and would we need to apply seperately ? this would not be an issue for us at all.
OR
Is a DMP the best option??
We probably have realistically £300 per month between us that we could afford to use to pay off debts...
Any advice or guidance is appreciated as we just need that little bit of help as once we can get this sorted then we can sleep easily.
Thanks in advance
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