bit of a wait..any advice??

Ole20_2

hello all..was planning to go BR but after a chat with my sons mum (we are trying to make a go of things despite us not living together) i have delayed so that i can get her name off the mortgage prior to pettitioning fpor BR...this seems the sensible option as a precaution..id hate for something to go wrong with my OR and to possibly lose the house as its in joint names..shed then have the burden and wed both be stuck for credit in the future.....

so basically waiting for this transfer of equity application (theres bout 8.5 k negative anyway)to go through before i proceed..hopefully only a few weeks but the BR is weighing heavy....i plan to pay my priority bills this month..then take remianing cash out this month and if my BR date is after next months pay do the same then and try to avoid the creditors, hope my OR doesnt look dimly on this ...so stressed about the whole thing...too much time to be worrying...anyone any advice?

Dez-Titute

Hi Ole,

You seem to have covered the bases what do CCCS ,CAB etc suggest as Im sure you have had advice from one of the dedt charities.

Ole20_2

i spoke with cccs..from my figures they advised bankruptcy and gave me court number..just cant ring yet due to the above..even though everything seems in place just so worried about the doing of it..such a big thing and something ive had no experience before..kp asking all the questions..what if they say no? what will the judge have to say? what wil the OR say? i feel really irresponsibleshouldnt have got myself in this position what if they refuse BR?

just want it to be over so the waits a killer..im still in workj and i can afford my priority payments ...i feel unworthy and overdramatic to some people who are in far worse situations..my heads bent...

Ole20_2

somehting i wud say is this is a position i will never want to get myself in again...its the motivation to be far more sensible and calculated

Ole20_2

hello tigerfeet....the form is just called transfer of equity...there is no equity its negative by about 8.5 k...the mortgage lender said i have to complete that to get her name off??

tigerfeet2006

Ole reread your post after and realised it said negative so deleted my post

So_Sad_Angel

Hi Ole20

I`m not sure what the OR will decide about your OH being off the mortgage. I suppose that technically you are assuming full responsibility for a debt when you are in financial hardship so I wonder whether the mortgage company will agree to it anyway.

If the mortgage co won`t allow the switch to sole name, & you are in neg equity anyway, then assuming you can afford to stay in the house she could then buy the beneficial interest at £1 .Therefore she would potentially keep an interest in case the value rose over the coming years.

Hope that makes sense.

Angiex

Ole20_2

no probs..appreciate you still looking out for me ) cant wait for this to be dealt with..

tigerfeet2006

Angel it is £1 plus around £250 costs to buy the BI.

Ole20_2

thanks ange..it does to me but she wans to be as far away from the situation as possible even if it means me lsoing the house..ive given up trying to explan..im hoping as im still paying the mortgage and havent missed a payment that ill be able to change..i dont actually live with my other half..she lives elsewhere,,,she used to live with me so technically her name should have been off by now anyway....

So_Sad_Angel

tigerfeet2006 wrote: »

Angel it is £1 plus around £250 costs to buy the BI.

Hi Tiger,

Thanks, I realised I`d missed that bit after I had posted....remembered that I`m still waiting for my BI letter to arrive!!

Angex