bankruptcy queries

silvercar

What is the property worth now?

I can't see how a 65k half share could leave you with a 50k shortfall if you sell now. That would mean valuing the whole property at (65-50) x 2= 30k.

i think you are trying to run before you can walk. If you can manage your outgoings at the moment, I would try and cut back on expenditure keep on the property and try and save some money. Forget buying the other half of the property and try and go for a cheaper wedding.

If you really can't stand the area then sell your half rather than buy more of it. Then go and rent somewhere reasonably priced and get rid of some of your debts.

jennikitten

credit_crunch wrote: »

we are recently engaged so are trying to factor in trying to get married and starting a family while our finances may be in tatters! we dont want to delay this whole process to long, as we feel if we have started a family we will never be in a position to sell the house or go BR.

Why is there such a rush to get married & start a family if you don't mind me asking? Your BR & debt all seem to hinge on this, and it's probably not wise for it to be the deciding factor.

credit_crunch

Silver we cant just sell our half - the house would have to be put up for sale

Theres no rush to get married or have kids- we just feel ready for it but want to be comfortable with our financial situation

With regards to the comment of tryin to run b4 i can walk describes me down to a tee!!

I honestly appreciate the feedback on here. Its helpin me alot. Plus we got a letter from shared ownership scheme to say they will be in touch abt our equity val so will wait & see how that goes :-)