bankruptcy advice needed please

janetob

Contacted the national debtline after 12 months of paying back my creditors at £5 per month as suggested by the CAB,they have told me that the cab were wrong not to offer it all on a pro rata basis and i would be better thinking about personal bankruptcy,as we only have £75 spare each month to pay our debts.

all the debts are in my name unsecured apart from one which is in both our names.What would happen to that one.

Im really scared and dont know what to do right now

plumduff-2

Do you own property...?

The joint one if you went BR - the bank could not chase you for the money as your liability would end in BR, however, they would still be able to chase your partner..

janetob

i dont own any property or car or anything of great value.got stuck in a rut of paying cfor credit with credit.

plumduff-2

Before you decide whether BR is your best option, look and tread up on the insolvency service website, so you know all the pro's and con's... ie - hoe does the OH feel about this option..? Are you worried about your credit file now and int he future...

Having said that, if you have no assets and have low income then it could be the option for you... how much do you owe in total...

If you go BR then you may not have £75 pm available, did you include your partners income in you last income and expenditure, as in BR this would not be includeed... you would list your income only and maybe a contribution of your partner towards the houshold bills etc,,,

janetob

I listed everything as with out hubbys money i wouldnt be able to pay any thing at all.my debts come to about 13.000.You know when you get to living off credit cards and dont see a way out .....:( thats me

plumduff-2

well you have found a way out now chuck...! x