My husband has accumulated large debt for the third time in as many years. I have taken out loans each time to consolidate and enable us to get back on track. He wants me to do this again and assures me it won’t happen again.
i can take another loan out and we will be back on track and able to afford life again (just!), or I refuse this time (as I did say last time I wouldn’t do it again), but he would have to get an ‘arrange to pay’ and essentially default on his debt. Which, I believe will effect me as well, and that we probably won’t be able to get a mortgage again for a very long time etc.
im also worried about the risk of bayliffs coming to the house with the latter option, as we have two small children 🙁
do I take on more of his debt in my name, or do I let him sort it out via ‘arrangement to pay’?
my gut is saying not to take anymore for him. As I need to hold firm with that consiquence and stop enabling it. Also our relationship is rocky, and I don’t want to be left with all his debt if anything were to happen.
but on the other hand, a management plan and defaults are not ideal for our future living situation, and when my credit record is tied to his.
Help!
WWUD?
Hi there @FairyC123,
Thanks for sharing on the forum. It sounds like a very difficult situation, I hope you are getting enough support. I'd like to suggest that you get in touch with the helpline 0808 8020 133, and ask to be referred to GamCare's Money Guidance Service, who will be able to offer some support to you.
All the best
Jane Forum Admin
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