Zero's diary of despair

zero77

I've been reading for a few weeks and would appreciate any help because I'm in a mess and at a bit of a loss and head burying. I owe so much money- £205,000 mortgage (930mth) £11500 loan(276mth), credit cards £3190 (100) and student loans £8000ish (75)but not paid for 5 mths.

My ex partner is joint name on mortgage but has moved abroad and is refusing to contribute or even speak to me. I have £1500 a month take home. My family live 300 miles away and don't have the money to help and don't know. House has been on market for 9mths and is now worth around £185k if I'm lucky

So after speaking to CCCS I'm going bankrupt. I can't afford the house and renting would cost about £450 so I want it repossessed. I'd like to go back to university as I'll lose my job and I've been offered funding of about £1000 a month -will the OR still want me to pay an IPA from my surplus -this would be around £300 a month.

If I go back to uni the student loans get deferred and I could afford them once I'm working again- will it affect my rate of interest if I'm BR?

Thanks

080808

Hiya Zero,
sorry i don't have the sure answers to your questions but just wanted to offer some support and a hello till someone who knows what you need to know comes along. if you've been reading then you'll know its a very helpful place to be at these times. best of luck to you. 08

dalip

I'm afraid with £300 surplus a mth you are looking at at last £150 a mth to the OR for 36 months. If your surplus is based on a DMP repayment then it may well be less. The allowances during bc are more generous than on a DMP.D

deedee_3

Hi and welcome to the board, you will find a lot of support here.

If you go BR and the house is repossesd and there is a shortfall when it is sold then that will then fall to your ex to pay as she is jointly named on the mortgage.

zero77

thanks for your replies guys - and deedee i would be surprised if my mortgage company could find my ex - will they make him bankrupt/take him to court while hes away or do they have to wait til he returns to the country?

how does this sound for an soa?

income 1041

outgoings
rent £450
council tax £40
contents insurance £10
bus pass £40 to get to uni
food and toiletries £120
tv licence £13
mobile contract -another yr to go £30
electric £20
heating £40
water £30
internet & home phone £30
clothes £20
dentist £10
haircuts £10
opticians £10
holiday £20
student loan arrears £80

total £973

it doesn't look that bad when it's like that - but now I'm worried I can't actually afford to go back to uni and what will I do between losing my job and starting uni - eeek

any advice appreciated on my soa and if it's realistic

dalip

zero77 wrote: »

thanks for your replies guys - and deedee i would be surprised if my mortgage company could find my ex - will they make him bankrupt/take him to court while hes away or do they have to wait til he returns to the country?

how does this sound for an soa?

income 1041

outgoings
rent £450
council tax £40
contents insurance £10
bus pass £40 to get to uni
food and toiletries £120 You could up this to £170
tv licence £13
mobile contract -another yr to go £30lower this
electric £20
heating £40
water £30
internet & home phone £30just put landline unless you can prove you need it for uni
clothes £20
dentist £10
haircuts £10
opticians £10
holiday £20
student loan arrears £80 Not sure about this.

total £973

it doesn't look that bad when it's like that - but now I'm worried I can't actually afford to go back to uni and what will I do between losing my job and starting uni - eeek

any advice appreciated on my soa and if it's realistic

If you juggle those figures around then that looks fine to me.Not sure where you got your surplus at £300 a mth from earlier in this thread D

purplepinhead

Hi and welcome, you have come to the best place ever for advice and support :j, I myself can not offer advice apart from my IPA is £75.00 for 36 months(half of what is left)

deedee_3

Dalip my OR allowed me £30 for my mobile phone I do agree at putting internet and phone just down as phone though.

You are allowed to make payments to the student loans company as they are not included in your bankruptcy.

fiveyearplan

You could lump mobile in with phone, CCCS told me 60 was maximum for phone.

zero77

Thanks for your help from rough figures I didn't think I would manage to make it seem like I had no surplus because I rarely spend money - at the moment I don't have any! Does the OR check to see if you do actually spend the money as you said you would - and if you don't do they amend your SOA??

And what happens to my ex when he gets back - how do the mortgage company get the shortfall from him - and as I keep reading on here it's so unlikely he'll get made bankrupt coz noone gets any money owed back - what will happen? CCJ's and then bailiffs take his stuff?

I feel like such a loser because I'm the one taking the consequences of it while he skips the country. Do I have to tell employers afterwards - positions I would be going for in the future would be research based and attract funding but I wouldn't actually be given any cash to handle as such - but would the BR be an issue do you think?

Thank you so much for your support. It's really great to read diaries that shows life doesn't end when you go BR