Scared N not sure what to do!

Miss_Worried_2

Ok Ill try my best to explain!
My husband and I live in a housing association home, which we pay rent and council tax on, We only have one low wage coming in a month (around £700) I have looked for work, but in our area there is nothing unless you have experiance or drive, but I will keep looking!
Yesterday I sat down to work out our money situ to discover we are in debt of about £8000, and we have no way of paying any of this off!
We are struggling, and considering the bankruptcy thing! But am not sure!
Bar the house everything is in my husbands name, but he pays rent on the house,
one of my biggest concerns is this, we are behind on the rent, if he goes bankrupt if the house is in my name but he pays would we lose our tennanacy?
We are only in our late 20s, we have no children, but are planning and one thought is, if we clear this now in one finaly ouchy go then we can start afresh.
Our credit rating doesnt bother us, if we havent got it then we cant get into debt again!
what happens in simple terms in the process of bankruptcy and how do we go about starting it?
I have more questions but think this will do for now
a huge thanks in advance

dalip

First off welcome.

There is a new law due to come into force in april for those with debt less than 15k. It is similar to bc but no court appearence,fees are less ect . Have a read up on DEBT RELIEF ORDERS . If you could manage to get your rent arrears paid off by then,that might be an option.Dx

Miss_Worried_2

hiya, thanks for the reply, our rent arrears are nearing 2 grand so I doubt we will get them paid by then but we could prob clear half if we really put ourselves into it and tried!
ill have a look now at the thing you suggest thanks