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totally lost
Junior Member
116 Posts |
 Posted - 03 June 2009 : 10:21:59
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Thanks for all replies!!
Ok, Ill give my DMP a ring and tell them Ive decided once and for all. God,I wonder if anyone has ever been as nervous about all this as I am...? I feel constantly nauseous!!!
And please could anyone help with these questions:
1.Been with partner for over 17 years and my name was taken off mortgage well over 6-7 years ago.I am beyond myself with worry over that our house will be in question.All my debts are non secured and only in my name.No house bill are or have ever been in my name and part of my reason for BR is the constant feeling of not contributing properly with life's expenses etc and in recent 2.3 years this guilt is just eating away my soul.
2.After my DMP is informed and they in turn inform the creditors....what happens then? Apart from calls/letters from them which I can ignore...do they send people to my home...Im so scared!
3.I have filled in the BR papers and been just so honest and said the reason for getting into this sad mess is and has been because I have had such a low salary for the 7-8 years(between£400-£700pr mnth) when I got into debt and I was too ashamed to admit it and just wanted to try and contribute towards bills,holidays,repairs,food etc etc. I always been in full time employment apart from right before I joined DMP as everything then started to fall apart.
Is this the way to fill in BR papers?
4.After having walked out the court...I can imagine I would feel perhaps a tiny bit of relief,but I'll be then utterly worried about the next step. My dream is that whatever OR I get for my case is that he/she will see that I've spendt the last 7 years(!!)without any credit(and the last 5 years under DMP) and all that shows on my bank statement is Sainsburys,Tesco,Asda,petrol,the occational chinese/indian,car insurance,car tax,cashwithrawals for as much of the bills as I can afford(which I know isn't a fair 50-50)the occational Primark purchase never over £20,life insurance,Boots the chemist,£10 mobile top up pr mnth......
5.Even if the OR interwiev goes well,I'm so worried that my partner will suddenly get some sort of letter stating all my debts and what a horrible person I've been...or even that our house should be used to pay part of the debt..(can't even get myself to write the amount,but it's between £10.000-50.000).
Is there anyone out there that has gone through this and been able to spare 'the otherhalf' from it all???????? HELP HELP HELP!!
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 03 June 2009 : 10:57:30
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Hi,
1. How long have you had/been living in the property? Is it in positive equity? If so the OR 'may' consider that you have a beneficial interest in the property as you have contributed to the upkeep for so long.
2. Once the creditors are informed the DMP has failed they will start to chase you for the remaining amount. It is always recommended to keep your creditors up to date even if you can't pay them so you can just inform them that you are declaring BR and then there is no need to answer their calls.
If the creditor sells the debt to a Debt Collection Agency there is a slim chance that someone will come to your door. Even if they do, just advise them that you are declaring BR and there is nothing they can do.
Normally creditors only sell the debt after 2 or 3 missed payments so if you are declaring BR soon then this may not happen.
3. Honesty is always the best policy. The OR will go through the reasons for your debt and who your creditors are during the ORs interview. Don't worry as they are non-judgemental and you haven't done anything that hasn't been done before.
4. Trying to get out of the debt either via an IVA or DMP is seen as a big plus by the OR. Both of these are extremely difficult to stick with as 100% of your DI is taken whereas with BR it is between 50% and 70% depending upon your DI.
5. You should think about discussing this issue with your partner as they may find out about it and it is better to come from you than from someone else. If your debt is below £15k then a DRO would be a better option.
Try not to worry, you have stuck with the DMP for 5 years and this is not an easy thing to do; if it were an IVA you would be finished by now.
The though of telling your partner might sound scary at first but it will probably work out better in the long run. |
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RHB
Senior Member
1159 Posts |
Posted - 03 June 2009 : 13:21:39
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| Why did you have your name taken off the mortgage? |
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totally lost
Junior Member
116 Posts |
Posted - 03 June 2009 : 14:07:18
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quote:
Originally posted by RHB
Why did you have your name taken off the mortgage?
HI.
My partner suspected I had finacial difficulties and removed my name from all house documents.How or excact when I dont know........ |
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RHB
Senior Member
1159 Posts |
Posted - 03 June 2009 : 16:03:33
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| To remove your name he must have had your signature & agreement. You could be in difficulties here if it was removed because he feared you may at some point have to go bankrupt. |
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totally lost
Junior Member
116 Posts |
Posted - 03 June 2009 : 19:38:48
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quote:
Originally posted by RHB
To remove your name he must have had your signature & agreement. You could be in difficulties here if it was removed because he feared you may at some point have to go bankrupt.
Hi RHB
I believe he paid off the mortgage(which was very small)and I never had to sign any papers/documents.
I have realised that even after all these years(8)my bank statements show the excact same amount taken out every month for the rent and he has paid all the other bills and they are in his name only.
On the IE I've now been advised to note the rent and not to mention heating,electric,phone,rates etc as I dont pay them.
Would you agree with this? It seems very fair and reasonable to me.
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RHB
Senior Member
1159 Posts |
Posted - 04 June 2009 : 07:19:29
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I'm confused, why are you paying rent if you are living in a mortgage free house????
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totally lost
Junior Member
116 Posts |
Posted - 04 June 2009 : 08:50:57
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quote:
Originally posted by RHB
I'm confused, why are you paying rent if you are living in a mortgage free house????
HI again RHB
There's only a small loan(unsecured) outstanding so my contribution goes towards that.At least one of us has a head for finances as he sold a business and paid the mortgate and arranged a small unsecured loan instead.
Does this make any better sense..?
Ive been such a jibbering nervous mess over all this that I havent thought things through properly.After a few questions to my partner I have realised the above and I feel a little less nervous,but should I....?
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RHB
Senior Member
1159 Posts |
Posted - 04 June 2009 : 13:58:35
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| So in fact you are still paying towards the house & therefore may be deemed to still have some interest in it potentially? |
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XXXXXSo worried!XXXXX
