advice please

roger1973

I need some advice, this is my story,
I have got unsecured debts for about £28000,secured debts of about £27000 and i owe£77500 on my mortgage.About 70% of debts are due to gambling.And the house is worth about £95000.

I told my partner how much trouble i had got myself into,she was not a happy bunny,well anyhow we have decided to separate.

The mortgage is in joint names and so is the secured loan,now for the questions
1 what would happen if we sold the house to the secured loan, would that still stay in both our names or could i get it in my name, because i dont want her paying for my mistakes?

2 would i be better going BR

any advice please

fudge59

Hi,

I'm sure people with more experience will be along soon ...

... but well done in coming here for advice - I used this a lot when I was deciding whether to go BR or not.

I think I'm right in saying that if you went BR - as some of your debts are from gambling the OR may put a BRU on you, which (I think) has the same implications as an IPA but last a bit longer and have a few more restrictions (Im sure i'll be corrected if i'm wrong).

Also - think if only you went BR, then as the loan is in a joint name the debt woudl transfer to your parter? (again - someone please correct me if I'm wrong)

roger1973

I have made an appointment with cccs and i have to fill out a SOA but i dont know how to do it because my ex and i are still living in the same house. so my SOA will be different once the house is sold and i am paying maintance etc.

deedee_3

bumpity bump

dalip

Yes dee is right.

Any loans ect in joint names would fall to the non bc person to pay.Also if you do decide to go bc then there is an almost certainty that you would get a bro/bru for gambling. This is where the restrictions of bc are prolonged for however many years the OR sees fit. Anything from 2-15.

When you do your SOA for cccs do 2, one as it stands now and another of how it will be when your partner are seperate.D