All Forums  archive  bankruptcy postbag for july  Urgent Bankruptcy Advice Needed

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Screensize: 640 x 480 800 x 600 1024 x 768 1280 x 1024 UserName: Password: Format Mode: Basic  Help  Prompt  Format: Font Andale Mono Arial Arial Black Book Antiqua Century Gothic Comic Sans MS Courier New Georgia Impact Lucida Console Script MT Bold Stencil Tahoma Times New Roman Trebuchet MS Verdana   Size 1 2 3 4 5 6   Color Black Red Yellow Pink Green Orange Purple Blue Beige Brown Teal Navy Maroon LimeGreen Message: * HTML is OFF * Forum Code is ON Smilies [quote][i]Originally posted by Flora40[/i] [br]After losing my job last year and being out of work for almost 12 months, we got in arrears with our mortgage. We advised the mortgage company and when I found a new job, we agreed we would pay a bit extra each month to try and clear the arrears which stood at approx £8,000. However, my new job pays quite a bit less than my old one and we struggled really badly until the mortgage company got a suspended possession order which they have now enforced. We have received an eviction notice for 23rd July. I have had an IVA which has been running for two years and I have managed to keep up payments on. My OH has credit card debt of £10,000 and two loans totalling £4,000. He is now saying he should declare himself bankrupt, but I'm not so sure. Firstly, the mortgage is in joint names and I haven't got a hope of buying out his share of the mortgage. Secondly, I know bankruptcy takes at least 2 to 3 months to set up and we only have about 2 weeks before they take the house back. Could somebody please give me some advice - should we let the mortgage company take the house back and then he files for bankruptcy or should he file now and if he does, what will happen re the eviction? I am very confused and worried sick. [/quote]   Check here to include your profile signature.