| T O P I C R E V I E W |
| dale1 |
Posted - 27 November 2011 : 22:17:15
Hello
I have outstanding debt of 62,000 that is including a morgage of 43,000. I have had a order to appear in court. I financialy am unable to pay this debt. The morgage is linked with an ex partner who lives in the house that I signed over to her but I got into debt with the morgage of the flat we had too. My ex refused to take her name of the flat so am wondering if all the debt will be attached to her house or does it get split?
If considering going bankrupt as have no means to pay this debt. Are there different levels of bankrupcy and what does it involve?
Thankyou |
| 4 L A T E S T R E P L I E S (Newest First) |
| Tifosi1 |
Posted - 29 November 2011 : 20:31:13
Thanks guys
Would you know if payment protection insurance taken out with the mortgage would cover the difference between mortgage balance and selling price when the property was repossessed? If this was the case then the main issue here would surely be covered by the insurance thus ceasing the need for court action demanding settlement of the account - and that would leave just the unsecured debts left to address?
Dale, hope the experts on the forum and breadth of information available within the discussions provide some answers and peace of mind for you
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| Niobe |
Posted - 29 November 2011 : 20:11:08
I agree with Viki that a chat with an expert would be a good start. Details can be found under the exoerts link on the left hand side of the page.
It's sometimes easier to discuss things over the phone
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| Tifosi1 |
Posted - 29 November 2011 : 19:08:05
Hello everyone
Is there anyone out there who can help address my friends queries? He is a new member and as i am sure we can all appreciate its very daunting taking the first steps to address debt issues.
Many thanks
Tifosi1 |
| Viki.W |
Posted - 29 November 2011 : 19:04:25
Hi dale,
You are liable for the full amount of any joint debts and she is also liable for the full amount.
I suggest you speak to an expert on here or the CAB for some advice and see if bankruptcy is the best option for you and if it is, what it involves.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
