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| T O P I C R E V I E W |
| Deborah.zp |
Posted - 23 November 2010 : 17:29:20
i was wondering if you could help, my mum helped me out with some loans, now i cannot afford to pay and i have just found out im pregnant, i know a girl who was in a simmilar situation with more debt and was able to declare herself bankrupt without it affecting her mother
i was wondering if this was possible, as i dont know how i am going to cope. my mum doesnt want an iva as she doent want to lose her home. i would appriciate any advice |
| 3 L A T E S T R E P L I E S (Newest First) |
| RHB |
Posted - 23 November 2010 : 18:50:33
Why would she lose her home in an IVA? Has she got a lot of equity in her house? |
| Deborah.zp |
Posted - 23 November 2010 : 18:09:35
all the loans are in my mothers name and it amounts to £23000, i would really like some advice on what to do as i cant afford to pay, she cant pay it and doesnt want to enter a iva as she doesnt want to lose her home
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| Melanie.n |
Posted - 23 November 2010 : 17:57:26
sorry, i would need more information before being able to advise:
Are the loans from your mother or has your mother acted as guarantor on loans with you?
If the debts are in your sole name, your bankruptcy would not affect your mother, however if your have joint loans wioth your mother or loans on which she has gonce gaurantor, she will be liable for the debt, if your were to file for bankruptcy
How much debt do you have? It may not even be bankruptcy that is the solution - could you post some more information and I, together with my colleagues on the forum could help further, thanks Melanie
Melanie Nicholas
29 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
email me at melanienicholas@jonesgiles.co.uk
telephone 01792 899996
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