Another bankrupcy question

stiffnuts69

My friend is having a baby and wants to go BR

bank_of_slate

Hi stiffnuts,
First of all, welcome to MSE, there are many of us who have faced similar or worse.

Can you post a full SOA so we can try to help you?
You will never be judged on here, everyone will offer honest advice and support.
I know first hand how stressful having your first baby is, nevermind worrying about your finances at the same time.
keep posting, we're here to help!
...Linda xx

Addicted2Chocolate

see the leaflet 'what will happen to my home' on https://www.insolvency.gov.uk. But in summary the trustee would have 3 years for the equity to increase enough befor he can force a sale. the better option would be for your wife to buy you interest from the trustee, she would have to pay 50% of the equity and pay the Trustees legal costs.

magentadreamer

Hi Stiff,

Babies do cost alot of money but you would also be eligible for help towards childminder fee's etc.Ok not the full amount but it's something If you post a SOA on here you might find you get alot of suggestions as to what to cut back on etc.You'd be suprised what can be saved just by looking at what your spending. I can imagine it's a worrying time for you with the baby coming and lots of debts, have you contacted Payplan?