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BALDY1970
Starting Member
United Kingdom
6 Posts |
 Posted - 10 February 2010 : 13:06:32
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well where do i start i split up with my wife about 3 years ago but it has been very amicable i left the house with her and the children stayed with her,i continued to pay the mortgage and help out even though my wages were cut last year she works and gets working tax credits,the house is still in joint names,i have been staying at friends house for this period,my wife and i thinking of getting back together unfortunately i have got myself in £22.000 pounds worth of dedt and cant afford to keep my family and crditors payed,i am thinking of going bankrupt to ease this problem,i am worried we will be left out on the street if i do so,i would do anything to get back together but i am worried i will get more into debt if i dont do something to ease my worries,will they take everthing in the house to sell off
many thanks |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 10 February 2010 : 13:25:34
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Hi Baldy
welcome to the forum
your situation is not impossible their are solutions (added after posting ** you may even be able to avoid BR if you act quickly and consider plan Reviva .. speak to paul)
in your situation i feel that it would be better to get in touch with one of the experts and go through all of the options and what ifs in one telephone call or sit down meeting
I have used Paul and his team at reviva and found them very helpful
all of your concerns raised in your thread are all natural fears and concerns and can all be managed if your BR is properly planned
regards Richard |
Edited by - Richard P on 10 February 2010 13:27:33 |
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BALDY1970
Starting Member
United Kingdom
6 Posts |
Posted - 10 February 2010 : 13:44:57
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| thanks for your reply so quickly i have contacted reviva and hopefuly they will be able to steer me in the right direction,my head is spinning at the moment keep paying out so much each month with nothing to show just sinking |
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Daniel Griffiths
Junior Member
United Kingdom
268 Posts |
Posted - 10 February 2010 : 13:58:56
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Hi Baldy
You mention in your post about bankruptcy however from reading it you know very little as to how it works, bankruptcy is a release from the burden of overwhelming debt not to put your family out on the streets. If you have a local County Court in your area you can pick up some leaflets about bankruptcy you will then have the facts not hearsay and of course there are the free charities who give independant advice and surfing the internet about bankruptcy also.
Good luck and hope it goes well with the family being reunited, dont let debt stop this, remember being in debt is not a crime allowing it to ruin your life is |
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BALDY1970
Starting Member
United Kingdom
6 Posts |
Posted - 10 February 2010 : 14:17:16
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thanks i am trying my best to do the right thing
i have looked at a remortgage i have a 165 dedt on that with the house being 190-195 but cant get one,so bankruptcy will clear debts and help me get straight and not sell my house to pay debts |
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Daniel Griffiths
Junior Member
United Kingdom
268 Posts |
Posted - 10 February 2010 : 15:47:57
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Hi
You will not get a remortgage from what you said and anyway borrowing more money is not the answer. You do however need accurate figures on the true value of the home what it will sell for not what it may be worth, and the value of the monies secured to it including redemption penalties arrears etc, it may just work out that your interest may be less than you think, making personal bankruptcy a real consideration, knowledge is the key here. |
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BALDY1970
Starting Member
United Kingdom
6 Posts |
Posted - 10 February 2010 : 15:53:51
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| so get a valuation then ,its 4500 to get out of the motgage redemption,would my house be sold to pay crediters |
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BALDY1970
Starting Member
United Kingdom
6 Posts |
Posted - 10 February 2010 : 16:46:18
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| we would prob have to file jointly because a few cards .loans and accounts are still in joint names because we never changed them over just kept paying them can this be done? |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 10 February 2010 : 18:12:45
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Any joint debts would revert to the party that isn't declaring BR. If they are unable to pay the debts then they may have to declare BR as well.
You can't petition for BR jointly it needs to be done individually however you can both petition on the same day. |
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Smith00
Starting Member
United Kingdom
1 Posts |
Posted - 22 June 2010 : 12:01:49
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spamming post deleted and spammer locked out.
admin |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 22 June 2010 : 12:04:48
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| another unhelpful spammer |
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Topic |
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bankruptcy help please
