help please advice needed,,,

fev1983

hi.
im in need of advice in regard to my situation,i split with my partner 18month ago we were not married but had a joint mortgage,,if i go bankrupt whot would happen to the house i dont want it she is still living there and paying mortgage and bills but doesnt earn enough to take the morgage over on her own,,
iv got a dmp going at the moment and all this situation has arrised due to me been seriously ill 2 years ago so just wondered if bankrupcy would be an option,
im now fit and well back working and really need to break free from this,,cheers guys hope you can advise me,,,,

IF

Hi fev1983 and Welcome, Not a 100% sure about your morgage/house question but someone will advise further. In the meantime first thing I would do is make a list of all your creditors, debts and assets. Secondly and most important is contact one of the following debt charities. Please try these they don't charge and are impartial.

They will go through all your options with you and if they suggest bankruptcy then come back to this board and we will help you all we can. Also if your not ‘clicking’ with one of the Debt charities do try another.

Please don’t do anything rash take your time and weigh up your options and read everything you can x

Please click on Blue links below.

For ‘essential’ info this is Fermi’s sticky at top of the forum:-

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

These are the most used Debt charities:-

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

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

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

More Debt charities also on Fermi’s link:-

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

And do remember we’ve all been through this and anything you don’t understand don’t be afraid to ask.

Best wishes
If...x

debtinfo

basically the OR will offer the house (or at least your share of the equity) to both you and her, but at the end of the day if neither of you can afford the mortgage they can surely be only one outcome

fev1983

debtinfo wrote: »

basically the OR will offer the house (or at least your share of the equity) to both you and her, but at the end of the day if neither of you can afford the mortgage they can surely be only one outcome

hi ,,,
they is no equity it is worth less than when we got it. what would that mean?

debtinfo

then your share would be worth £1 which would be offered to either of you (plus some legal costs), the key point here is that whoever takes it over needs to be able to afford to keep up the payments

fev1983

debtinfo wrote: »

then your share would be worth £1 which would be offered to either of you (plus some legal costs), the key point here is that whoever takes it over needs to be able to afford to keep up the payments

thanks for your replys,,
im going to look in to this because i really need to cut loose,
if i went trough with it and she got my half for a pound does it matter that she doesent "offically" earn enough to pay the mortgage but makes the payments each month,