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T O P I C R E V I E W
Sid.te
Posted - 05 February 2011 : 21:13:11 my wife and i are split up she has her own house not in my name it is her that has the morgage i am now living with my son to my first marage,but i have 16000 of unsecure debt in my name witch i no longer can pay i am thinking of going bankrupt but i have one debt that is in joint names as i could not get loan as i am not householder it is unsecure loan with my credit union.but my wife pays this by dierct debit and she has told me she will carry on paying this loan so it does not affect her house if i go bankrupt can you advice me thanks
2 L A T E S T R E P L I E S (Newest First)
RHB
Posted - 06 February 2011 : 17:16:59 Was the house ever in your name & did you ever contribute to thhe mortgage?
Housing
Posted - 06 February 2011 : 11:16:57 Good morning Sid.te,
Welcome to the Forum.
Seems to me that your wifes property is just that and as such, you (or she) should not be concerned about it being affected or at risk if you were to petition for banktuptcy.
The £16K of debt - I am assuming is not just one debt - and you refer to a joint debt too. Is that included in the £16K total?
It is not a huge amount and you may be better seeking an alternative option - Debt Management, IVA or something that will bring the repayments under a managable arrangement.
The CAB may be your best initial step - they will assess your income and expenditure and give you some basic advice.
There is the CCCS - online advice and a very helpful website. They will hold your hand through a possible solution.
If you have had a spell in the services, maybe the Royal British Legion or SSAFA.
If you are in a trade union they may be able to offer advice
The experts here are excellent - so a link to one or all of them may be helpful.
What you have described is not too daunting and certainly I would think BR is not the first option to resolve the situation
