advice needed please

ks2010

i am on a debt repayment paln through CAB and so far my creditors have been ok
but my dad is a bit worried as he has left his house .which.he still has £7000,00 to pay but his life insureance and savings should just about make the balance

in his will he has put a clause ..leaving it jointly to my brother ( he stays in the house just now) and I in event of his death

....would the creditors force me to sell the house to pay off my debts .in full i owe about £10,000 through visa cards / catalogues as techically will be an asset

the cab have said about a lila(in scotland) but i am a bit apprehensive that the house will be taken off us ..

house is vallued around £70.000

any advice ....i suggested to him making a new will

Tixy

In the event that your dad passes away and you inherit half the house whilst you are in your DMP, would your brother intend to continue living in the house or would you both want to sell?

Assuming he wants to continue to live there then...

First a creditor would have to decide they were not happy with your DMP payments and decide to get a CCJ against you.
You would apply to pay the CCJ in installments and a judge would usually grant the installment figure similar to your DMP payment.
Then if you did not keep up with these payments the creditor could try to apply for a charging order against the house you had inherited (if they knew about it or could find out you owned it).
Usually with a charging order it just sits with security on the house until a) you clear the debt and apply for the CO to be removed or b) you decide to sell the house - at that point they would then normally be entitled to be paid after any mortgage or debt secured on the house.
It is possible but rare for a creditor to go for a forced sale charging order (ie you have to sell to settle the debt) but these are very rare. They are I think more likely to happen for a house that you did not live in/was not a family home but still pretty unrare.

To be honest I don't think there is a huge risk, more of a potential risk. Is your dad particularly old/unwell? How long is your DMP expected to take until your debts are cleared?

ks2010

hi thanks for your reply

..yes my brother still wants to continue to live here as he was brought up in it and likes the area
my dad has long term heart problems also just over 70 ..
i have been on DMP for 2 yr but expect it to take another 3 -5 yrs provided visa cards reduce or cut the interest My dad knows i am on a DMP but not extent of the credit card debt but listening to news / listening to others etc hes was just concerned that i would cause the house to be taken from my brother /us both