Hi This site is great - full of useful info! My husband and I have decided to do a VR and then a BR, after reading on here that seems the best route to follow. All of our debts are in my husbands name, £60000 on credit cards and the house is just in my husbands name also. We are stopping paying the credit cards this month as we have no funds left, do we need to contact and tell them that we are planning on doing a BR or not?? We will stop paying the mortgage from next month (oct) and realise from reading on here we have 3 months from then until they can start legal proceedings. We are starting to look for a rental and want to know our best option - if the VR and BR will only be in my husbands name, will the landlord need to know if we put the rental in my name only?? Thanks for any advice Anna
Do you have equity in the house ? and are you sure that you want to walk away from it?
It is always good to review this carefully before taking the plunge.
There is no requirement to advise anyone of your plans. Sometimes the creditors take what you say onboard and ask you to advise them when you have gone to court.
Other creditors spend hours trying to talk you out of it.
You will however receive many many calls and letters over the next 3 months so batten down the hatches.
re the rental property you may be able to convince the landlord that it should be just you on the agreement - some agencies are fine so good luck with that
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
want to know our best option
Posted - 19 September 2008 : 22:42:29
