I'm a single parent and have been split up from my husband for nearly 2 years. I have 3 children and we have just sold he house bu still owe 50,000 something on a loan with nemo. As its in joint names I have o pay half. Also have a few other debts. I am working 17 hours but don't think I can afford to live if I pay these debts individually. Would I be better for me to go bankrupt and how will this affect me.
If you go bankrupt then your husband will still be liable for the whole amount of the loan as you are jointly and separately liable for this so he will be chased by the loan company.
If you are in rented accommodation then BR is something to consider but I would recommend that you chat things through with an expert. You can find details on the left hand side of the page and the initial advice is free.
The friend in my adversity I shall always cherish most. I can better trust those who helped to relieve the gloom of my dark hours than those who are so ready to enjoy with me the sunshine of my prosperity. – Ulysses S. Grant
As Niobe has advised, I suggest you talk this all through with an expert.
Bankruptcy may be an option. You will always owe the full amount of the loan, not just half, and if you do go bankrupt, as Niobe has said, your ex will be liable for the full amount too.
Have a chat with an expert and see what options are available.
I'm a single parent. Would it be better for me to go bankrupt? How will this affect me ?
Posted - 31 December 2013 : 08:49:22
