My husband is currently unemployed. I’ve applied for Debt review as I cannot manage my monthly expenses on a single income any longer. Unfortunately due to the fact that I’m married in COP my husband’s debts were also taken into account. The review was declined as our combined expenses are way more than my salary. It’s basically impossible to pay the reviewed amount on my single income. The reason I applied for Debt review is so that I could at least afford to pay my monthly expenses on time. Is there any other option I would have without having to include my husband’s past debt. I’ve considered writing directly to these creditors to arrange a payment plan but I’m not sure if they would assist me.
Thank you for getting in touch.
You most certainly can contact your creditors and negotiate with them to see if they can offer you some sort of breathing space.
Unfortunately with regards to debt review, there must be sufficient income for the debt counsellor to present a reasonable payment plan to the credit providers. Many consumers are turned away because of their affordability being too small. If you can barely cover your living expenses, there would not be anything for the credit providers.
Your options would be to try and generate an income for your husband and cover the debt repayments from his income, or to sequestrate. The latter would be the option that most consumers use when debt review cannot work for them.
I hope you find the right solution.