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T O P I C R E V I E W
daz2oo7
Posted - 22 January 2009 : 13:08:41 i am thinking of goin br soon as i owe over 22000 and am currently out of work and living in a privet rented house with my partner and 2 kids my partner works 16 hours per week and gats tax credits aswell. we are currently paying our debt of a low rates ie a few pound aweek but now it coming to the stage where we carnt afford em my question is i am the one goin bankrupt but we have a car with welcome finance been paying full monthly amount since aug 2007 but when we got the car we got it in both our names so would i be able to include that in my br as i think we would be better of without the car
1 L A T E S T R E P L I E S (Newest First)
JulianDonnelly
Posted - 22 January 2009 : 13:16:45 Hi Daz2oo7 and welcome to the forum.
HP is classified as secured lending which is exempt from BR. It would be down to Welcome Finance whether they wish to keep the contract going.
If the finance is in both names, under joint and several liability, if one of you goes BR, then the other is liable for 100% of the debt.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
