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OH our mortgage and my BR
Badger1875
Posts: 11 Forumite
Don't know how to get around this.
I have been advised by cccs to declare myself BR problem is the mortgage is joint and has a joint unsecured part. I would walk away from the house but obviously my OH would be persued for the mortgage and unsecured part.
We will struggle to afford it but she doesn't want to go BR so what could we do to get away from the house?
I'm close to breaking point now
I have been advised by cccs to declare myself BR problem is the mortgage is joint and has a joint unsecured part. I would walk away from the house but obviously my OH would be persued for the mortgage and unsecured part.
We will struggle to afford it but she doesn't want to go BR so what could we do to get away from the house?
I'm close to breaking point now
0
Comments
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You could go for voluntary repossession but I'm not sure what impact that would have on your wife. Has she said why she doesn't want to go bankrupt?Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848"He who laughs last didn't get it!" :rotfl:BSC 134
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Her job is in finance and BR would mean she loses her career.
Voluntary repossesion is only an option if there is equity in the property isn't it?0 -
I don't think so - I would imagine more people go for voluntary repossession when they are negative equity, otherwise they would sell the property themselves.
I don't actually know too much about it - sorry
Get free advice before embarking on bankruptcy: CCCS 0800 138 1111 National Debtline 0808 808 4000
Business Debt Line 0800 197 6026 CAB Insolvency Service- 0845 602 9848"He who laughs last didn't get it!" :rotfl:BSC 134
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Any repossession, voluntary or otherwise, will leave your OH liable for the entire shortfall once sold, and the entire unsecured part.
Is keeping the house not an option?
She will also be liable for any other joint debts, such as overdrafts or loans, you may have.Accept your past without regret, handle your present with confidence and face your future without fear0 -
The mortgage and it's unsecured portion is our only joint account. That means we will have to stay in the house then.
At least it clears that up.
Thank you0
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