BR now or later?

debtmummy

Hi,

My OH has just received a letter from Link Financial stating that were going to go for a CC J or bailiffs. We were both planning to go bankrupt in the next month or so to save the money for both of us. We have the money for him to go BR now, would it be better for him to do it in the next couple of weeks ( London has a drop in system) or wait until we both have the money?

If we do this now how would it effect our SOA- All income is his but all utilities in my name, and bank account in my name with his salary paid in, it was supposed to be joint but I don't think abbey ever got round to doing it)

Help i don't want bailiffs coming round especially as its a rented house with our landlord living around the corner.:eek:

peachyprice

As you don't own your own house it doesn't really make a lot of difference if you go BR now or after a CCJ.

You can delay it for a while if, when you get the forms from the court, you defend the claim.

Just make sure you do fill in the forms though, giving your i&E details showing how much you could afford to pay, (by the time it comes to making the first payment you'll be BR anyway) if you don't the judge can say you have to make full payment forthwith, which you obviously can't, if you default on that, that's when they can send bailiffs.

debtmummy

thanks for that, my main question was if just he goes BR what happens to the SOA and our joint debts. as I dont work I cant pay them.