BR gonnabe

Jumping_Bean_3

Hi, newbie here looking for advice / friends' shoulders to cry on etc.....

Both myself and my spouse are self employed and having warded off many debts following the liquidation of my company, it seems BR is looming. I've come to deal with it over the last year or so and have read up about what happens. The question is how will it affect my spouse / house?

We have 4 kids and live in a 5 bed house with neg equity so there's no interest there but we are in arrears and on an arrangement with the mortgage company. The mortgage is in my name only. Is there any chance they will let us keep the house? The main reason I'm worried is that renting will be alot more expensive and there are very few (sometimes none at all) 5 bed properties to let in our area. Also could the OR force us to move to a house with less bedrooms and make our kids share?

Other questions to follow but one thing at a time.......thanks in advance to you all

curly04

Not sure but dont think they can
but I will bump this one up for you

take care

IF

Hi and welcome JB, first thing Make a list of all your creditors, debts, assets.
Secondly and most important is contact one of the following debt charities. Please try these they don't charge and are impartial.
And do ask us any other questions.

Please click on Blue links below:-

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

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

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

For more ‘essential’ info and more Debt charities:-

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

Best wishes
If...x

Jumping_Bean_3

Thanks, CAB appointment my next task and any updates welcome.......