urgent help please

Sunnylooloo

Can I make a suggestion, as your circumstances have changed slightly maybe also have a chat with one of the below as well

http://www.citizensadvice.org.uk/index/getadvice.htm
http://www.nationaldebtline.co.uk/
http://www.cccs.co.uk/

Sorry I haven't really been much help as not too clear myself on a lot of things and I do understand what you are saying about the joint debts, but I think you will be liable

Lets wait and see what advice someone else has to offer

dojoman

Sunny is right, if your OH goes BR then the liability for the joint loans will all fall on to you.

MrC1977

Sunnylooloo wrote: »

Can I make a suggestion, as your circumstances have changed slightly maybe also have a chat with one of the below as well

http://www.citizensadvice.org.uk/index/getadvice.htm
http://www.nationaldebtline.co.uk/
http://www.cccs.co.uk/

Sorry I haven't really been much help as not too clear myself on a lot of things and I do understand what you are saying about the joint debts, but I think you will be liable

Lets wait and see what advice someone else has to offer

thanks - Citizens Advice seems a good idea as i can speak to someone face to face.

MrC1977

dojoman wrote: »

Sunny is right, if your OH goes BR then the liability for the joint loans will all fall on to you.

thanks for clarifying - not the answer i wanted.............but at least i know

Sunnylooloo

CAB will also help you with letters if you need to write any and we are here for any support that you might need

LL

Sunnylooloo

Chris I will bump you up as someone might be on later to offer some advice.

Try not to worry there will be some solution

take care

debtinfo

Hi chris

Right as has been said you will be liable for the whole amount of any joint debt. But you will only be entitled to half of the proceeds from the house sale

So when looking at your options you need to add up all the debt that you would be liable for and see what you can afford to pay. If you place the house on the market then the Trustee of her bankruptcy should still let you sell it as long as they get their half

If you have any more questions feel free to ask, im afraid the only oe we cant answer is to tell you what you should do

MrC1977

Sunnylooloo wrote: »

Chris I will bump you up as someone might be on later to offer some advice.

Try not to worry there will be some solution

take care

thanks - much appreciated

MrC1977

debtinfo wrote: »

Hi chris

Right as has been said you will be liable for the whole amount of any joint debt. But you will only be entitled to half of the proceeds from the house sale

So when looking at your options you need to add up all the debt that you would be liable for and see what you can afford to pay. If you place the house on the market then the Trustee of her bankruptcy should still let you sell it as long as they get their half

If you have any more questions feel free to ask, im afraid the only oe we cant answer is to tell you what you should do

thanks for the email.

Done some simple figures last night and the reality is that if she does go bankrupt i will get approximately £15k more debt (depends on how much the flat sells for).

i am really at a loss as to what to do. I had a DMP worked out that i was comfortable that would have got me debt free i would have guessed in about 6 or 7 years. Not great but i was happy with that. The extra debt just makes my situation so muich worse and we put me over 10years to pay back.

I think she thinks that bankruptcy is the easy way for her to be debtfree!

magicgirl

did the dmp include the flat/mortgage repayments? although you will get £15k more, will that not be less that the extra debt from the mortgage or was it kept seperate? sorry, i may be wrong as i didn't have a mortgae when i went br and never did dmp due to same reasn as our ex.. not enough to cover it. just a thought..