The next move

dannychampoftworld

Hello there im a 32 living in south wales currently have a mortgaged property with my partner and 3 children the issues are the property has an outstanding mortgage of 98,000 which im only paying the intrest on i dont believe the house is currently worth that me and my partner have between us oustanding debts of 27,000 being handled by a debt management company paying mininmum payments to the creditors. Unfortunately i have recently been told that i will be losing my job of 6 years as the company is ceasing trading, so as you can imagine its a bit of a worry my partner recieves some benefits at the moment such as carers allowance, DLA for my daughter, child benefit, and child tax credit. But once my job has gone we will not have the income to run the house, so were after some advice as what to do next would bankruptcy be the answer as that looks like our only option. cheers dan.:(

dojoman

Hi and welcome:)


Please contact one of the charities below, they will offer free and impartial advice.

https://www.nationaldebtline.co.uk/
https://www.citizensadvice.org.uk/
https://www.cccs.co.uk/



Below is a link you may found helpful about going BR?

https://forums.moneysavingexpert.com/discussion/1056083

Also this link to the Insolvency Service is useful!

http://www.insolvency.gov.uk/