| Author |
 Topic  |
|
|
troubled mind
Starting Member
United Kingdom
11 Posts |
 Posted - 04 November 2009 : 21:48:01
|
Could someone please help me with the following? My partner and I are in debt to the tune of 48k. 24k is my debt alone for credit cards and bank overdraft, 24k is a joint unsecured loan. Could I go BR for the full amount on my own? Any advice would be welcome.
Thanks
Tina |
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 04 November 2009 : 22:49:40
|
Hi Tina
you have just posted on my question about insurance
so thought i would reply to your posting
do not rush into anything.. speak to one of the experts (i used paul at reviva it helped me understand the process and he had a full look at all of my options)
we are all different and he was able to suggest a good option for us
keep posting and keep speaking to people, well done for raising your head and recognising you have an issue, it is the first but biggest step to take
regards Richard |
 |
|
|
debtinfo
forum expert
2826 Posts |
Posted - 04 November 2009 : 23:08:47
|
| Hi Tina, The joint debt would not be wiped if you went bankrup only, it would fall entirely to the other person |
|
|
|
In 2 Deep
Junior Member
United Kingdom
161 Posts |
Posted - 05 November 2009 : 11:10:39
|
Tina your creditors would chase your partner for the whole amount on a joint debt if you declared yourself BR.
Speak with a forum expert, and they will advise your best way forward.
Treat EVERY Penny as a prisoner. |
|
|
|
Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 05 November 2009 : 11:21:00
|
Hi Tina,
For joint debt, the creditor will pursue your partner as it will be joint and several liability
I would seek advice from an expert - there are a number on this forum that will advise you - free and they are good!
Good luck, Richard
"There are no problems - only solutions..." |
|
|
|
troubled mind
Starting Member
United Kingdom
11 Posts |
Posted - 05 November 2009 : 11:44:28
|
Thanks Richard, I will do that. I have just found out that I have more equity in the house than I realised, so may be able to avoid going BR. Which expert would you recommend?
Tina
Tina |
|
|
|
Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 05 November 2009 : 11:54:21
|
Hi again Tina,
I have had excellent email advice from both Melanie @ Jones Giles and also from Paul @ Reviva. You will see their email links on the site.
There are other experts too that make regular contributions
ood luck, Richard
"There are no problems - only solutions..." |
|
|
| |
Topic |
|
Sole or joint BR
