Debts £7600

prone2accidents

Hi there,

As of this present time I work 8 hours a week as a cleaner, am claiming carers allowance for my daughter who lives with her mum but stays with me half the week. I earn £45 a week approx plus £34 carers allowance.

I live with my partner who is in full time employment but 5 months pregnant, she paid the deposit for the house and the mortgage has always been in her name.

I owe £7600 approx in 3 different debts from way before I met my partner but have heard of an administration form you can get that lists your debts and you can pay off over 12 months.

Where do I stand as my partner has bought everything for the house and used her credit card to get what she has got and I'm worried that my debts, getting made bankrupt will affect her house, credit and bills.

Whats my best way forward as I cannot afford to pay the amount and think my partner should not be liable for anything as these are my debts.

fermi

Are you referring to an Administration Order or a Debt Relief Order?

The 1st only applies to debts of less than £5,000 where you already have a CCJ, so is not for you on the info you have posted.

A DRO could be an option if you have less than £50 per month spare from your income and no assets above £300.

Please have a look at the info in this link:

http://www.bis.gov.uk/insolvency/personal-insolvency/dro-debtors

In any case, you need to seek professional advice on what your best option is. If you plan to work more than you do now for example, a DRO may not be appropriate.

There is a list of organisations to approach for advice in this link.

IMPORTANT - Where to seek professional impartial advice about your debts.

prone2accidents

I am not sure, I am hoping to get a job full time.

What will happen if I do?

Will any of my partners assets be affected as I live with her?

fermi

prone2accidents wrote: »

I am not sure, I am hoping to get a job full time.

What will happen if I do?

If you were in a DRO and it takes you above the £50 per month surplus, then the DRO may have to be revoked.

prone2accidents wrote: »

Will any of my partners assets be affected as I live with her?

Not in a DRO, no.

prone2accidents

thanks.

Am looking into the DRO now.

fermi

It's worth asking about when you contact the debt charities in my previous link.

However, if you are looking at getting back into full time work then £7,500 may not be the insurmountable amount that it probably seems now. So there may be other options you can discuss with an advisor.

prone2accidents

Yeah, but i have been provisionally accepted at University so that puts a different spin on things again.

My work will only be part time as the baby is due in june and Uni starts in september.

Part time money wont pay new bills and old bills!

fermi

OK. That does definitely put another spin on it then. :undecided

prone2accidents

Can my uni money be taken into consideration if the DRO is in place?

prone2accidents

Would it be easier if I filed for bankruptcy?

As I get benefits I could save £150 on the initial fee.

I am not too bothered about the affects it will have on my life in the short term and think in the long run it would be a better option.

I have worked out my incomings and what I contribute to my partner and I couldn't afford to pay off anything in my present situation.