Where do I stand

jamespounder1

Hi,

I am currently in around £13000 worth of debt, I have looked at a Debt Relief Order as I am currently on a DMP and it is taking forever!!

I am married and have been for 2 years. Our home is owned by my wife and her sister, the payement for the buy to let mortgage has been coming out of our joint acc for 2 years.

Will our home be classed as being an assett of mine in some way?

Apart from that I have no other assetts or savings.

Many thanks for your help.

James

property.advert

My guess is that unless anyone want to try and prove otherwise, the names on the deeds and mortgage are what counts. I cannot see a creditor trying to attempt to get a judge to agree to their proposition that you are the actual owner. No, I don't think you have anything to worry on that score.

irismary

is there any equity in the property? You might be deemed to have a Beneficial Interest which could mean that you would then have more than 300 assets. Do you have a car? That can be worth up to 1000. I suggest you go to your local c.a.b. They will check if you are eligible for a D.R.O.