Help - seperated and worried about joint debt.

RAS

Lost a post here.

But basically, I think you would be very ill advised to do any form of joint debt management with your ex.

And if you were going to do an IVA, which is an insolvency arrangement anyway, why not go the whole hog and go BR?

With no equity and loads of joint debts, it is the way to force your ex to take responsibility, not least as if you do not, the chances are he will go BR.

But please talk to the debt charities first.

You do need advice on the house as well however.

worriedsinglemom

The house is going up for sale in about ten days but there wont be any equity. There will be just enough to cover the mortgage and hopefully the fees as well.

I've been on the phone to National Debtline who were really good. They have advised an IVA isnt the way forward for me but they think either a DMP which will take 12 years to clear or bankruptcy after the house is sold is going to be best.

I just hate the thought of bankruptcy but dont like the fact of 12 years either. Really not sure which way to go.

RAS

Well, at least there will be no negative equity.

I think you would be inadvised to make any decision on anything other that a DMp at the moment. If your solicitor has any nouse, they will ask the court to recognise that since your ex has the benefits of the cars, he should be paying that debt.

Once you know where you are with the divorce settlement, then you can reconsider the situation.

pippen659

Hi guys,

My wife up and left in september last year, although I have been paying all the bills for the last 15 years due to my fortunate circumstances of working for myself, I am now starting to struggle with the increase in Solicitors fees and joint mortgage and joint debts (about 22k) I am now starting to struggle.

As my wife refuses to let me sell the house to clear the debts, I am now fighting to keep my head out the water. I cant see anyway outta this mess.

I have thought about voluntary repossesion, anyone got any ideas on how this works or if it is legal....(or another way out of this mess)

thanks in advance:A