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sleepless-in-south-london
Junior Member
United Kingdom
170 Posts |
 Posted - 18 March 2007 : 22:54:43
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Please help!
I owe about £15,000 to 8ish different creditors. I rent my flat and have nothing worth selling. I take home £1100 a month, and my husband takes home £800. I don't want him involved in any way, and would prefer not to tell him the trouble I'm in. We have separate accounts, BTW.
My questions are:
If I go bankrupt, would I have ANY money to myself for holidays and coffee?
and,
could we get a mortgage? His credit is squeaky clean.
To be honest I don't think I'll even attempt an IVA, my disposable income is nowhere near enough as they'd want.
Thank you for listening. I can't sleep for worrying.
kat x |
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Debtdummy
Junior Member
United Kingdom
267 Posts |
Posted - 19 March 2007 : 13:51:38
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hello sleepless, before going bankrupt consult an expert. It requires great consideration. I am not a bankruptcy professional merely someone who could not afford an IVA and this was the only other solution open to me.
As for owning a home one day. Yes, you will be able to own a home one day after being discharged from the bankruptcy. The interest rate will be higher though. How much higher? Well, I was told anywhere from 6.5-6.9 % two years after being discharged AND having 10-15% deposit to put down on the property.
Contact CCCS. http://www.c-c-c-s.com/about-us/contact-us.html
They are highly respected throughout the credit industry and the consumer debt agency. They can give you very good advice.Also National Debtline is very good:0808 808 4000.
Good luck.
All I have left is my sense of humour. |
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