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karen.1
Starting Member
10 Posts |
 Posted - 25 October 2009 : 19:48:34
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| hi all not sure what to do husbandshas left me he has 30k off debt ,he saying his going br leaving me aright mess i also have 10k of debt been told i could go on dmp with payplan ,dont want to lose the hse because of any of this.any thoughts please |
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debtinfo
forum expert
2826 Posts |
Posted - 25 October 2009 : 20:31:01
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| Hi karen very difficult to advise given the limited information but in general terms if he goes bankrupt you will be responsable for all your own personal debt as well as any joint debt |
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RHB
Senior Member
1159 Posts |
Posted - 26 October 2009 : 07:26:44
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| Does your house have any equity in it? If so I would move quickly & start the divorce proceedings asap to get the financial aspect sorted out before ex declares bankrutcy. If it doesn't, your ex may agree to transfer the house over to you. |
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karen.1
Starting Member
10 Posts |
Posted - 26 October 2009 : 13:16:48
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yes the house has about 15,000 equity i know its get split 5o/5o .i cant afford to buy him out or remortgage in my name only,as mortgage is for 109,000 house worth appox 125.000. all other debt is not joint.
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RHB
Senior Member
1159 Posts |
Posted - 26 October 2009 : 17:56:51
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| Unfortunately it looks as though you will lose the house if you can't remortgage but it won;t happen overnight. |
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karen.1
Starting Member
10 Posts |
Posted - 26 October 2009 : 18:57:53
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oh no what about the children and if he does is there any point in paying the mortgage
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 26 October 2009 : 19:33:12
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Hi Karen, 
Do not start to panic - even if you did lose your home, it will not be for many months in all probability - I say in all probability as I dod not know what stage the position/relationship is with your lender at this moment.
Are there any arrears?
Is it a joint mortgage
Are you both looking at BR?
Is there a secured debt?
At the moment I would advise that you approach your local council housing advice section and they will look at your situation. It is very likely thatas you have small children, they will be able to offer you advice and assistance. DO NOT panic - take things at a day at a time and if you have some more detail, post back and we will, betwwen us, have some suggestions.
Thjoughts are with you and your children - Richard x ( a proud dad and granddad!!)
"There are no problems - only solutions..." |
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karen.1
Starting Member
10 Posts |
Posted - 26 October 2009 : 19:45:02
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hi housing
there are as yet no arrears ,i may be forced to go br due to ex,and no secured debt. not sure if plymouth city council will help i thought about the mortgage rescue scheme
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 26 October 2009 : 20:10:00
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Hi Karen
I live in Plymouth - If I can assist I will be happy to do so.
I went BR in May - I had an estate agency and letting agency - see my profile and you wil see my surname!
The MRS was geared to assist borrowers and avoid repossessions - I am not convinced it has achieved what the politicians desired...!
As you may be aware Plymouth Housing is about to transfer to a housing association after a ballot last year. The Council will still have a legal duty to offer advice and assistance to those threatened with homelessness. You may be advised to make an appointment at Midland House to see what they can do for you.
I wish you well and post back - I am sure we can assist you through the forum, Richard (Green Army! - sorry!)
"There are no problems - only solutions..." |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 26 October 2009 : 21:36:28
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Hi Karen
some of the mortgage companies are actually quite understanding.
My brother in law had big probs as he ahd a previous good track record with the same company, they allowed him not to pay his mortgage for 4 months, in this time he managed to get himself sorted he then paid his mortgage for the next 6 months and they added the unpaid 4 months onto the main loan.
as housing states, do not panic or rush into any decision.
will husband hold off BR giving you a chance to get your affairs in order (or is that too wishfull thinking)
speak to people housing has local knowledge and their are people on this forum that it would be worth you calling, even if it is just for peice of mind
good luck Richard |
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karen.1
Starting Member
10 Posts |
Posted - 27 October 2009 : 14:47:15
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thankyou all i will take everything on board as to what you have all said and housing this is for
green army x
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 27 October 2009 : 16:36:04
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Good luck Karen x
If you are really stuck post again - I look at the forum every day, Richard
"There are no problems - only solutions..." |
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Topic |
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hi all not sure what to do husband has left me
