Finally decided please advise

peachyprice

purple-pear wrote: »

Thanks mysterio so basically I could be done for perjury either way I cant win

Ok, as all the debt is in your name your OH can never, ever be liable for any of it.

It isn't fraud to use your maiden name for credit, that is fine.

But you have been know by your married name in other areas of your life, because of this you must put your maiden and married names on your BR forms, as long as you do this you are not committing perjury.

Putting both names on your BR forms will in no way make your OH liable for anything.

I hope that helps.

purple-pear

Thankyou that really does help I was thinking when I go to court they would uestion why I took the credit out in my maiden name when I was married and I put Miss on the forms when I was A Mrs I think I have become paranoid.

I was unclear that if I put my married name down if it would affect him although from what u r saying it wont anyway so I will put both names down. I dont want to risk telling lies anyway just scared.

I thought I read that even if u take debt out in your name if u r married and gobrit is all transferred in to husbands name, but I must have got this wrong. Sorry if I have sounded thick.

In respect to the house if it gets repossessed but takes 5 yrs to sell can I still include this debt in my br? As if I have to pay in to fund for 3 yrs how will thy work out payment if thy dont know what toal debt is?

peachyprice

Don't worry about the house, it will always be included, no matter how long it takes to sell.

Some dodgy websites tell lies about debts to frighten you into signing up to their services, e.g IVA & loan companies. i wouldn't be suprised if you're read that somewhere, but if his name isn't on anything it isn't true.

purple-pear

Ok thankyou it feels clearer now. Can I ask what is the best route in your opinions vol repo or just dont pay mortgage? Also what would I have to put down for my SOA all I pay out and what my husband pays, as we havent been gettin on lately due to all this I dont want to include him in SOA as I will then have to pay more for three years and we may split up, he is already blaming me and I feel so bad. Or would they reduce the payments if this happened?

peachyprice

You have to put him on the SoA as long as you are still living in the same house. So you put all the household bills in full, plus your own expenses, but nothing that is just his. Then you put his contribution to the household bills, not his whole wage.

So for example if you earn £1200 per month and your outgoings in total are £2000, your OH's contribution will be £800, so only enough to make your SoA balance and leave you with little or no surplus, so no IPA.

If things change in the future you must tell your OR.

Hope that makes sense.

It makes no difference whether you go for vol. repo or stop paying the mortgage. If you stop paying it will probably give you longer to find somewhere else to live as it can take 9 months-1yr for them to repossess. If you do vol repo make sure you don't sign anything.

purple-pear

Thanks peachyprice for all your advise just a couple more questions, why do people do the vol repo then? Is this because thy cant get rented house sfter br? Do u know what checks thy do as we could get it in my hubbies name but he has defualts on credit rating so not great?

Also will thy send baliffs round from mortgage company?

peachyprice

Vol repo is usually quicker, if you don't have a shortfall it doesn't matter if you sign the forms they send, but if you don't sign it can take longer.

They do a credit check for a rental, they don't usually mind defaults, but CCJ's & BR can be a problem. Could you find somewhere before you go BR?

No, bailiffs won't come from the mortgage company.

purple-pear

Will have a shortfall morg 220,000 and house worth approx 200,000 but would get less if thy sold and thy dont sell on here quickly anyway, so if it took years to add to the fund would I have to pay in again at this point as when I take the br out initially the property wont have sold?

Merry_Gentry

Any shortfall will go into your BR regardless how long it takes them to sell the house. Just don't sign any paperwork from the building society regarding repossession!