might have to go banrupt but will my girfriends house be in trouble?

memphis12

I posted on another part of the forums and think I will need to go bankrupt.

I have about £35k of unsecured debt £22k joint with an ex. I have a mortgage of £120k joint as well with ex and the house is valued around £100k
The mortgage is £3400 in arrears.

I live with my partner. She has a mortgage on her own, but I had to sign something when she bought house saying I had no ties to house and have no financial ties with it. But.. I read if im paying towards bills the house is a beneficial interest. Is this correct?

If I go bankrupt I cant seem to get the £750 to go bankrupt so have no idea how I will get myself out of this mess.

Also.. the house and unsecured debt i have jointly with my ex? will they take my name off it and chase my ex for the money?

thanks in advance.

Ineedaname

If you go BR then any joint debts will fall to your ex to pay/sort out.

If you have a legally signed document stating you have and will not gain any beneficial interest in the house then I doubt an OR can override that. Probably best to seek legal advice to make sure the document is watertight.

The total fees are now £700. Most people you stop paying towards their debts in order to save up, can you do that? Otherwise, have a read of the Look Here First thread which has some ideas on funding for fees. That thread also lists recommended free debt advice agencies to seek advice from before making the decision to go BR.

tigerfeet2006

Hi and Welcome to the Bankruptcy (BR) Board.

The first step is to make a list of all your creditors, debts and assets. Secondly and most important is contact one of the following debt charities. Please try these they don't charge and are impartial. They will go through all your options with you and if they suggest bankruptcy then come back to this board and we will help you all we can. Also if you are not ‘clicking’ with one of the Debt charities do try another. We advise you to try at least two for your own piece of mind. Your BR could be refused if you have not sought advice.

* Blue text on this forum usually signifies hyperlinks, click on the blue links below *


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.

Please don’t do anything rash make sure you take your time and weigh up your options and read everything you can.

For ‘essential’ BR info this is Fermi’s sticky.

BR friendly home insurance thread.

BR Friendly bank accounts sticky.

BR Abbreviations.

We often ask you to post your SOA so we can see if you have included what you need to:-
MSE SOA Calculator - Click here Select the MSE format at the end. Copy and paste onto your thread.


If you are new/old to this board and receive/see a comment that is not helpful or insensitive please don’t let it put you off posting, often these comments are made by people who don’t normally contribute to this board and don’t speak for us.

What to do if you get an insensitive or hurtful comment.


And do remember we’ve all been through this and anything you don’t understand don’t be afraid to ask.

Best wishes TFx

debtinfo

how long have you been living with your partner and have you made any contribution to the property whilst living there