In a bit of a pickle and in need of some advice...

confused76

with regards to work, i would check if there is a br clause in your contract, and failing that an anon call to the HR department?

Troythecat

Hi Fuzzydog
it is difficult for me to advise on whether you should go through your work, assume it will be totally confidential...
Maybe you would feel better keeping it all "away" from your workplace though?

Taking advice really must be your first port of call.Once you know exactly what your options are, your head will be a lot clearer.

We are voluntarily giving back our house keys, hubby doing a trust deed and I will get a Lila (low income, low asset bankruptcy as soon as this house is discharged from us. I don't work.

Your situation is a bit different as although you have the debt probs you also want to leave the marriage, but as someone said, it is solvable..

I am not sure where you are but we are in Scotland.

I urge you to make that phone call, they will help you. They will have dealt with similar situations. X

p.s any shortfall from when our lender sells this house will fall into trust deed and BR, so they will not be able to pursue us for it.

FuzzyDog

confused76 wrote: »

with regards to work, i would check if there is a br clause in your contract, and failing that an anon call to the HR department?

Unfortunately I've no idea where my contract is I've been with my company for ages and I guess it's just been misplaced... Even more unfortunate is the fact that our HR department are less than useless! It's a huge multi-national and they can't even tell you which business entity most of the employees work for My line manager knows I've been having 'problems at home', so I think I may speak to him on Monday and see what's said.

I need to put my perceived shame and guilt of BR to the back of my mind. As I'm sure is true of most people out there, I've not borrowed recklessly or lived beyond my means - a potential change of circumstances is just about to bring me to my 'financial knees'. If I keep telling myself it was unavoidable maybe one day
I'll believe it...

Thanks to you all for your help this evening - I'm sure I'll be back at the beginning of next week to get some more advice after I've called one of the debt organisations... you'll all be sick of the sight of me soon

Much love and best wishes
FuzzyDog

tigerfeet2006

FuzzyDog wrote: »

I'm keeping all my feelings to myself at the moment, with regards to my husband. I feel like I need to know what I'm going to do and have the wheels in motion before I open my mouth as I think once it's all out in the open then things will be unbearable at home... I almost wish that I could slip out in the middle of the night without any scene or confrontation - I owe him better than that though...

With regard to the joint debts, I think that I've read that secured debts aren't included in bankruptcy so am worried that some time down the line I'll find myself liable for a huge shortfall on the mortgage - if you have any advice on this it would be great

Thanks again
FuzzyDog

The secured debts are not included in the BR and the mortgage co. can chase and harrass you for the money as much as they like. However as soon as the house is repo'd and sold the debt's become unsecured and will then fall into your BR and they can no longer harrass you. This happens even if you are discharged from BR.

It may be an idea to talk to Women's Aid about the problems you are having with your husband or as a friend calls her ex, the manshape!

http://www.womensaid.org.uk/

FuzzyDog

tigerfeet2006 wrote: »

The secured debts are not included in the BR and the mortgage co. can chase and harrass you for the money as much as they like. Hi Tigerfeet76 - Will they be able to take me to court and send the bailiffs round? The very thought terrifies me! I once lived in a rented house where the previous tenants had been in debt and the bailiffs kept coming round and trying all the windows and doors while I was hiding behind the door! If I'm was that scared about someone else's bailiffs I dread to think how I'd be if they actually came to see me!

However as soon as the house is repo'd and sold the debt's become unsecured and will then fall into your BR and they can no longer harrass you. This happens even if you are discharged from BR.

It may be an idea to talk to Women's Aid about the problems you are having with your husband or as a friend calls her ex, the manshape!

Ooops - I'm not allowed to post with 'links' because I'm new, but thank-you for it!

Thank-you
FuzzyDog x

andyf1980

FuzzyDog wrote: »

Unfortunately I've no idea where my contract is I've been with my company for ages and I guess it's just been misplaced... Even more unfortunate is the fact that our HR department are less than useless! It's a huge multi-national and they can't even tell you which business entity most of the employees work for My line manager knows I've been having 'problems at home', so I think I may speak to him on Monday and see what's said.

I need to put my perceived shame and guilt of BR to the back of my mind. As I'm sure is true of most people out there, I've not borrowed recklessly or lived beyond my means - a potential change of circumstances is just about to bring me to my 'financial knees'. If I keep telling myself it was unavoidable maybe one day
I'll believe it...

Thanks to you all for your help this evening - I'm sure I'll be back at the beginning of next week to get some more advice after I've called one of the debt organisations... you'll all be sick of the sight of me soon

Much love and best wishes
FuzzyDog

I used to work for a large bank. My contract said nothing about BR but it was in the company handbook about "financial mismanagement"

I suspect that if you don't work in one of the prohibited professions (Insolvency Practicioner/MP etc.) you would be ok. As I understand it the OR would not contact your employer as a matter of course.

My personal opinion as an ex manager who dealt staff in similar situations would be to be careful about disclosing too much too your work. They might be the most understanding employer in the world but best not to give them too much info unless really necessary.

With regard to renting somewhere, I am currently renting a place and pre br was asked to either provide a guarantor or pay 6 months rent in advance. Haven't heard anything from my landlord since I went br.

Take care and hope you get on ok with the debt charities.

Tupperware_Queen

I have secured loan and mortgage, loads of neg equity, and all that going into BR, just make sure its clear on the forms

kepar

But tupperware, secured debt does not go into the br- you are still liable for it. If the house gets repossessed and sold off the shortfall becomes a non-secure debt and that then goes into the br.