Please can someone point me in the right direction?

Mimmiemouse

Hi,

This is my first post on here but not on the forums. I have registered again as there may be family etc that will recognise my other user name.
My OH and I are trying to work out if he should go Bankrupt.

He has thousands of pounds on credit cards that we cannot afford to pay however I have 2 properties with mortgages on in my name and some savings(not enough to clear my debts let alone his) I used my inheritance from my Dad to buy them.

We have joint accounts but not with savings in.

My question is where can we find out if they will look at what I have, as we have been together for 8 years and thus have had money going between our accounts.

I would really appreciate a nudge in the right direction as have been reading all afternoon and carn't find the answers

Thank You

blind-as-a-bat_2

BR is personnel to the individual, as long as it cannot be shown he has a beneficial interest in YOUR properties, nothing he does should affect them.

I am being cautious here, as you indicate a tangled web regarding finances, but as long as it is clear the properties are yours, and he in no way helped finance them, or added to there value in any way, if he does go BR, the properties are irrelevant to his BR.

I also have to add, and I hope I am wrong, but I suspect this topic may attract a troll or two, if it does ignore them :D

Mimmiemouse

Hi,

Thank You for your reply, Do you know if they would they look at his bank accounts and see that he has transfered money to my account? That helped pay for the bills etc?

I know its hard for you to be sure but I am so grateful for any help trying to work out how we get ourselves out of such a mess (and learn from it)

(not sure what a Troll is!)

tigerfeet2006

Hi and welcome to the board.

Your first port of call should be to contact one of the Debt Charities; see links below. Their services are free; they have no vested interest to serve; their advisors are professionally trained and the advice they give will be objective and in your best interests only.National Debtline operate an advice on first phonecall system CCCS operate a system of telephone appointments that are designed to be flexible and don’t require you to attend an office based interview. At the CAB you will need to make an appointment with a specialist Financial Advisor; other advisors may not have the specialist knowledge you’ll need.

http://www.cccs.co.uk/

http://www.nationaldebtline.co.uk/

http://www.citizensadvice.org.uk/index.htm

If you’re advised that bankruptcy is the most suitable solution to your financial problems then we can offer the best support and anecdotal advice that you’ll find anywhere on the Web.

Read as much on here as you can, starting with the Bankruptcy Help sticky and that will answer a lot of your questions. But don't be afraid to ask about anything you don't under stand.

http://forums.moneysavingexpert.com/...html?t=1056083

Just remember, as desperate as you may feel at the moment, we have all experienced what you are going through at the moment and with the right support and advice things will improve. It’s not an easy route to take but it is a route that will put you back in control of your life rather than just reacting to events.


As for Trolls have a look at this thread

http://forums.moneysavingexpert.com/showthread.html?t=990869

blind-as-a-bat_2

Mimmiemouse wrote: »

Hi,

Thank You for your reply, Do you know if they would they look at his bank accounts and see that he has transfered money to my account? Yes they will, for at least 12 months, but can go back to 2004 if they want tooThat helped pay for the bills etc?

I know its hard for you to be sure understatemant:pbut I am so grateful for any help trying to work out how we get ourselves out of such a mess (and learn from it)

(not sure what a Troll is!Hmm as you said you had posted before, i assumed you would, nevermind, and hope it stays that way:))

Unless the OR can connect any transaction to the value of the property, they will have a hard time proving beneficial interest for your OH in the properties.

I’m sorry but I can not say much more than that, nor can anyone else, without seeing your finances for the last x years.

But I will say, on the face of your post’s so far, the odds are in your favour………….

Mimmiemouse

Thank You for your help and advice

I will keep reading, not sure what we will do , I think perhaps our finances are too linked. Too many transfers from his account to mine and then bills being paid.

Just feel so sick about losing everything even though I know its our fault.

I did know what a troll is just didn't think about it's name! (why do people do that?!)

tigerfeet2006

Mimmie give National Debtline a ring, they are open to 9pm. You may have to wait a while as they are very busy but settle down in your chair with a cuppa and keep at it.

blind-as-a-bat_2

Mimmiemouse wrote: »

Thank You for your help and advice

I will keep reading, not sure what we will do , I think perhaps our finances are too linked. Too many transfers from his account to mine and then bills being paid. While you’re right to be cautious, don’t over analyse it, proving BI is a minefield, proving a figure is even harder, as there are soooo many factors involved

Just feel so sick about losing everything even though I know its our fault. Half your fault, it takes a creditor AND a debtor;)

I did know what a troll is just didn't think about it's name! (why do people do that?!)

I am not sure what best to advise you to seek advice from, i feel the usual contacts will be unable to say anymore than i have, But give them a try anyway, but whether a solicitor, IP or accountant may help more, im not sure let alone wich one:o