Newbie considering BR - a few questions

neverdespairgirl

chelseabun wrote: »

my OH owes one of his brothers about £6000, and wants to transfer this debt to a credit card so he can pay his brother back. If he goes BR, I think the OR won't like this one bit, and will go after his brother to get the money back. Am I right in thinking this?

That's preferring a creditor, and the type of thing that leads to a BRU.

chelseabun_3

Morning all!
Thanks NDG, I think I persuaded him that that was a no-go, but your info will add weight to the argument if it comes up again!

Couple more questions about the SOA - as the mortgage and rent are in my name only, do I still put them down on OH's SOA? I think I should, and include the whole amount in my contribution as he's not able to pay anything towards them at the mo. What do you folks think? (I'll also include the whole amount of rent that we get for the house.) I'll be talking to the OR about buying OH's BI (even tho' he's not on the mortgage, he's still lived there so has a BI) for £1 plus costs, as we're in negative equity. That should keep the house safe for now, shouldn't it?

Also, he's not able to pay anything towards the bills either, so I will be adding them to my contribution. Does that mean that if he gets a job after going BR the OR will consider that as I am able to pay all the bills, anything the OH earns counts as extra? Would that land us with an IPA? What I was thinking of doing was reducing my contribution on the SOA if he gets a job, as we want to divide the bills equally asap. Would the OR accept this?

As you can probably tell, we've been awake for a while, thinking!! :rolleyes:

CB x