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molly1412

hi tupperware queen thanks for the reply, i thought that but i just dont want to do anything wrong thats why its great to hear first hand experiences and get advice.

that would be my biggest concern is that i have a small baby and another one due i would hate for bailiffs to turn up ewspecially as i will be on my own husband will be out at work so i would rather not pay mortgage/bills for a month or two get rental sorted prior to this and then move into the rental and start BR proceedings at least i know that no one can turn up at the door.

did you have trouble renting? obviously they will need to do credit checks etc whats the advice to do with that side of it? rental seems to be more expensive than our mortgage as we are only on interest only and we would need to rent a 4 bedroom as my husband has 2 children that live with us everyweekend and we will have two babies (which they can share a room really) but how can you justify rental prices x

Tupperware_Queen

I was lucky enough to get a place through the HA. I had support from CAB and the local housing options guy was really understanding.

I accepted a place which had been empty for a while, and was not in the best area etc, but felt beggars could not be choosers!

I would suggest you go to see the local council housing advisor and see what they recommend.

molly1412

so can we not private rent? didnt think about that. oh my we are learing so much before we even start - so daunting!!

do you mind me asking how long you saved some money for your fees, rent etc and what OR said to that? also how long after you declare bankrupt do you meet OR? x

alastairq

Hi....what does Hubby think?

Will you both [be considering] BR?

Do you have joint debt? Or are they in one name or the other?

molly1412

my husband is still kinda burrying his head in the sand although agrees its the best option but we are now concerned about his job and if he was to lose due to bankruptcy then i really dont know what we would do.

most debts are in my husband name - except a few of mine but the major joint debt is the mortgage and as we are in so much negitive equity and cant afford mortgage then we see no other option and from what i gather although one can go bankrupt i would still be liable for the shortfall on the mortgage which would be a major debt. plus we are in this together

thanks

alastairq

molly1412 wrote: »

my husband is still kinda burrying his head in the sand although agrees its the best option but we are now concerned about his job and if he was to lose due to bankruptcy then i really dont know what we would do. Relatively few types of job are directly affect by BR....finance industry, in certain sectors..maybe jobs involving budget control,? ?..If employed, perhaps OH could speak to someone from HR [that's hyperspeak for 'personnel']......other than that, for most jobs there is no need for an employer to even know.


most debts are in my husband name - except a few of mine but the major joint debt is the mortgage and as we are in so much negitive equity and cant afford mortgage then we see no other option and from what i gather although one can go bankrupt i would still be liable for the shortfall on the mortgage which would be a major debt. plus we are in this together

thanks

just asking, as sometimes only one partner need be BR..or the BRs themselves could be staggered.

Have you been in contact with one of the debt charities yet?

tigerfeet2006

molly1412 wrote: »

so can we not private rent? didnt think about that. oh my we are learing so much before we even start - so daunting!!

do you mind me asking how long you saved some money for your fees, rent etc and what OR said to that? also how long after you declare bankrupt do you meet OR? x

Yes, you can rent through a letting agent or privately.

kepar

I take the other view point and say get a new rental before you go BR. It will be easier to get a new property before the BR is on your credit file in my mind.
Tiger that what I was trying to say, stay as long as you can, until you find the right rental. Rushing into a rental and the finding out that it is not right, can cause more headaches and a lot of money. What the OP has to realise that moving is not cheap, and will need as much money as possible to move. The house is going to repossessed anyway so any shortfall will fall into the br. Use the oppurtunity to save you will not get another one.

molly1412

but how does the OR look at the fact you have not paid your creditors for a few months to save for rent/fees? if we saved for 3 months we would have around £1500 a month which is a good start to pay for rent upfront and fees but i dont want it to come back and bite us as to why we have not paid as much of our creditors as we could with the money we had x

tigerfeet2006

He looks at it as if you were trying to get a roof over your head and that is the most important thing. Your priority debts need to be paid first, these are housing, council tax, food, utilities etc. Debts are not priority. The OR understands that you need to do these things to survive, they are human to.