| Author |
 Topic  |
|
|
stresshead
Starting Member
1 Posts |
 Posted - 26 October 2009 : 13:41:15
|
Hi
Not sure what to do - my partner left me 3 months ago, I had gotten loans out in my name, but for him. He isnt paying me what he owes,a nd of course its all in my name.
I live in a council rented property & have a two year old daughter. No savings or anything of value.
I cant afford to repay the money as he used to give me the money for the loans, but he is no longer doing so. I cant afford my personal loan now either on my single income. I work full-time & dont get any benefits, exept for tax credits which pays for my daughters childcare. The debts in total are around £7000.
Would bankruptcy be a option? |
|
|
sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 26 October 2009 : 16:23:51
|
Hi
Bankruptcy is an option so is an IVA which is a form of insolvency and a DMP Your beet bet would be to speak to an insolvency practitioner, the majority of them offer free advice to discuss your options.
Unfortanetly you dont have any comeback legally with your ex as you took the debt in your name.
Have a look on iva.co.uk the sister site to this one and post on their too.
Hopefuly it will get sorted
Stu J Byron |
 |
|
|
debtinfo
forum expert
2826 Posts |
Posted - 26 October 2009 : 20:43:32
|
| Hi stresshead, your first port of call should be the CAB, CCCS or the National Debtline as they give free impartial advice |
|
|
|
In 2 Deep
Junior Member
United Kingdom
161 Posts |
Posted - 26 October 2009 : 20:54:56
|
Stresshead,
Maybe a Debt Relief Order would be suitable.
Have a look at the following website:
http://debtrelieforder.org.uk/commonly-asked-debt-relief-order-questions
BR may not be suitable for such small amount of debt.
Please make sure you take professional advice from someone like the CAB.
Good luck.
quote:
Originally posted by stresshead
Hi
Not sure what to do - my partner left me 3 months ago, I had gotten loans out in my name, but for him. He isnt paying me what he owes,a nd of course its all in my name.
I live in a council rented property & have a two year old daughter. No savings or anything of value.
I cant afford to repay the money as he used to give me the money for the loans, but he is no longer doing so. I cant afford my personal loan now either on my single income. I work full-time & dont get any benefits, exept for tax credits which pays for my daughters childcare. The debts in total are around £7000.
Would bankruptcy be a option?
Treat EVERY Penny as a prisoner. |
|
|
|
sjbyron
Average Member
United Kingdom
746 Posts |
Posted - 26 October 2009 : 21:59:04
|
Hi
A DRO wouldnt be available to you as you work full time
Personaly I would get some impartial advice from an insolvency practitioner
Stu J Byron |
|
|
|
In 2 Deep
Junior Member
United Kingdom
161 Posts |
Posted - 26 October 2009 : 22:13:20
|
Hi Sjbyron,
You can be working part-time / full time, and still be eligible for a DRO if the following applies:
People can only enter a DRO if they meet the following conditions:
They must be unable to pay their debts.
They must not owe more than £15,000.
The total value of their assets must not exceed £300 - although they can own a car worth up to £1,000.
Their disposable income (after tax, national insurance contributions and normal household expenses) must not exceed £50 per month.
They must live in England or Wales - or have lived / carried out business in England Wales at some time in the last 3 years.
They must not have been subject to another Debt Relief Order in the previous 6 years.
They must not be involved in another formal insolvency procedure at the time they apply.
I would however consult an IP to discuss your specifics.
Gd luck.
quote:
Originally posted by sjbyron
Hi
A DRO wouldnt be available to you as you work full time
Personaly I would get some impartial advice from an insolvency practitioner
Stu J Byron
Treat EVERY Penny as a prisoner. |
|
|
|
Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 27 October 2009 : 11:07:12
|
I totally agree. As long as your DI is not over £50 a month once your priority payments have been paid, you are eligible for one.
I do agree that a chat with a professional would be advisable.
The glimmer gets brighter all the time
Jan
xx |
|
|
| |
Topic |
|
Partner left - now what??
