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What about the house?!
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marklunn3602
Posts: 78 Forumite
Evening all
First post on this thread and I need some advice please.
Last week I found out that the wife is 22k in dept and with both salaries we cant make the repayments. A DMP is a possibilty but will take many years to clear.
I understand some of the implications of bankrupcy but theres others Im not sure about.
we have a joint mortgage but no equity. I have HP on one of the cars and the loan for the other is also in my name.
If OH went for the BR option would they take the house?
The debts are all unsecured.
Regards
Mark
First post on this thread and I need some advice please.
Last week I found out that the wife is 22k in dept and with both salaries we cant make the repayments. A DMP is a possibilty but will take many years to clear.
I understand some of the implications of bankrupcy but theres others Im not sure about.
we have a joint mortgage but no equity. I have HP on one of the cars and the loan for the other is also in my name.
If OH went for the BR option would they take the house?
The debts are all unsecured.
Regards
Mark
0
Comments
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If there is nio equity in the house then it's very unlikley you will lose the house, even with equity you would be able negotiate with the OR to buy your wifes share of the equity.
As you own both the cars they will be safe too.
HTHAccept your past without regret, handle your present with confidence and face your future without fear0
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