in shock and scared

scaredwife

just discovered that dh has been made bankrupt - he's obviously been hiding stuff from me but that's a whole other can of worms!

taking deep breath

he's got an OR appointment on 4th Aug

we have a mortgage on house and I think some equity but not much

we have a business with a friend which is in its infancy and only able to pay us Nat Min Wage at the moment.

I have 2 part time jobs and we have kids at university who we pay living accommodation for.

are we likely to lose the house and other than the fact that he has ruined his/our credit rating for the next 7 years what else is going to hit me like a 10 ton truck?

IF

Hi SW and Welcome, I am sorry to hear you had no idea about DH BR!! Now you may not lose your house and will need to have a read of Ferm's thread below:-

For ‘essential’ BR info this is Fermi’s sticky - Click here

Best wishes
If...x

scaredwife

thanks Ifwishes

I've just had a man at the door offering counselling and a way to get rid of the problem if there is enough equity in the house - I think I smell a scam/get rich at others expense situation -or am I just mistrustful?????

There are going to be some strong words in this house tomorrow morning when dh returns.

IF

scaredwife wrote: »

thanks Ifwishes

I've just had a man at the door offering counselling and a way to get rid of the problem if there is enough equity in the house - I think I smell a scam/get rich at others expense situation -or am I just mistrustful?????

There are going to be some strong words in this house tomorrow morning when dh returns.

Definately a scam and don't touch.

Please contact one of the debt charities, they are free and they will give further advice re the house.



Main recommended sources of help:

• National Debtline - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)
• Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111
  

Others:

• Business Debtline - Website: Business Debtline Telephone: 0800 197 6026
• Christians Against Poverty
• PayPlan
• TaxAid - Help with tax debts.

debtinfo

hi scared wife, i need to ask you a couple of questions before i can give you any usefull information,

did he declare his own bankruptcy or was he made bankrupt by a creditor?

The business you mention, what type of business is it,

When you say we have a business with a friend to you mean, you and the friend, husband and the friend or all 3 of you, also is it a limited company or a partnership

debtinfo

also who did the person who came to the door say they were from

soccermom

I don't know much about bankrupcy, but a friend of mines husband was made bankrupt last year and they have kept their house, so there is definitely ways and means.

I just didn't want to read and run.

scaredwife

The business is a limited company and he was made bankrupt by HMRC.

We've only been running the new business 9 months and it's just beginning to break even. I know he can't be a director or run the company but that isn't a big issue for us as his role is customer facing not management.

The man at the door was from the Bankruptcy Protection Fund Ltd offering a no win no fee annulment if we have equity in the house. Not going to touch them with a bargepole.

mandyl

scaredwife wrote: »

The business is a limited company and he was made bankrupt by HMRC.

We've only been running the new business 9 months and it's just beginning to break even. I know he can't be a director or run the company but that isn't a big issue for us as his role is customer facing not management.

The man at the door was from the Bankruptcy Protection Fund Ltd offering a no win no fee annulment if we have equity in the house. Not going to touch them with a bargepole.

i got 2 letters from them people, they both went in the bin

philnicandamy

Ah good old BPF...getting rid of your debts by taking on more debt