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Nowhere to turn....

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  • Nowhere to turn....

    Hi there, I have just applied for a DMP pack from Step Change after going through their questionnaire.
    After trying for months to get a remortgage, I now realise I have exhausted all avenues.
    My credit score has always been good and I have never defaulted on payments, but after being made redundancy and now on a much lower salary I find myself in sky high debt (Tesco personal loan 28k, credit cards 15000k) and my partner has only recently realised to what extent the debt is now that our salaries are so much less.
    I have no disposable income, but I do have £50k of equity in my property which would help so much if I could get a remortgage and release this, but have been declined on affordability on several occasions.
    I am worried about my property especially as I have two young children, but I also donít want to burden my partner with this. She has excellent credit score too with borrowings at all besides the mortgage and car finance.
    She is worried about this affecting our future, understandably so.
    I just donít know what to do? Carry on paying every month, have no money left, therefore increase the borrowing on my credit card to pay for everyday expenses or sign up to a DMP and affect her credit score aswell as mine and possibly affect our lives too?
    Appreciate any feedback, I am so stressed.

  • #2

    Most new members feel the same way as you at first. Once you take control of the situation you'll begin to feel better.

    My suggestion is to establish whether these debts are unenforceable in law first.

    Why not start by listing your debts in a separate post for each one (on this same thread) so suggestions can be made as to your next steps.

    If you use this format it'll be easier for members to see the backstory and then offer help >
    • Type of account (credit card/loan/overdraft/catalogue)
    • Date commenced (ideally before April 2007)
    • Approx balance
    • Date last paid (approximate date you last made a FULL payment)
    • Are you on arrangement or not paying
    • Status (default/in arrears/up-to-date)
    • Account owner (who is writing to you, a DCA or the original lender or a debt purchaser)

    I look forward to helping you.

    Legal Disclaimer

    I am a Litigation Executive at
    Joanna Connolly Solicitors a firm which specialises in consumer credit. If you need to contact me you can send a message by clicking on my username or by emailing me at or by telephoning 0330 053 9340. Our initial advice is always free.

    Any posts I make on the AAD Consumer Forum are for information and discussion purposes only and shouldn't be seen as legal advice. Any advice I provide on the forum is without liability. If you are unsure please seek formal legal guidance or contact your local citizens advice bureau at


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