Please I need help, it's a little complicated

pelirocco

sniggings wrote: »

bishopsgirl wrote: »

and what help were you offering the OP here?

my post did say IF he was guarantor then they would be affected,I'm sure the OP understood that but there are options here,he could take over the loan or the OP could not include the loan in the BR so he does not have to be affected or at worst he would have to carry out what he already ageed too,which is paying the loan if the OP can not,but this does not have to stop the OP from going BR.

sorry Ruth it seems more people wish to pick holes in the advice I offer rather than take the time to help you,it is not normally like this on here,we are a friendly bunch but maybe it's the cold weather lol

I really think the OP needs to get professional advice , both her parents are tied into the mortgages and I would guess that her going bankrupt is going to affect them

Ineedaname

Ruthie - after reading your additional information I have a few suggestions, obviously it would still be very wise to seek free professional advice.

(Assuming NI is the same as England for all the below)

Run your figures through the TurnToUs Benefits Checker to see if there's anything you can claim such as Working Tax Credits.
Ring your local council and ask about 25% single person discount on your council tax for the home you live in.
If you have a spare room in the home you live in, what about taking a lodger as that extra money may make all the difference for you. (You would lose the CT discount though, lol).
Check with USwitch or similar to see if you can get better utility/phone etc deals.
Speak to an insurance broker to see if you can get any better deals for all the insurances you hold for both the properties and any personal ones. I know there's not much choice over there still, but still worth checking all your policies with a fine tooth comb, you may be paying for an 'extra' on each policy but only actually need it on one of them, such as legal cover, or not need it at all.
You say the car is a debt, if it's on finance then can you do something with that, i.e. have you paid enough back to return the car without penalty and buy something cheaper? Long shot I know, but again, worth looking at possibilities.

I obviously don't know what you spend on groceries each month or how frugally you actually live, but pop over to the Old Style board if you want some ideas on how to cut back on general living expenses.

I hope those suggestions help anyway. With only the mortgages and the car as debt, and especially as your parents are both tied in, BR may not be your best option, so looking at everything to see where you can save money and make more (lodger) may be enough to see you through until prices rise again.

IF

Hi Ruthie23, As others have said please contact a free debt charity, 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 your 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.

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

For information in Northern Ireland you should contact The Insolvency Service of Northern Ireland at:

The Insolvency Service
Fermanagh House
Ormeau Avenue
Belfast
BT2 8NJ

Tel: 02890 251441

N.I. Direct - Click here

Online forms - http://www.detini.gov.uk/deti-insolvency-index.htm


CCCS you can also email questions:- http://www.cccs.co.uk/InfoCentre/NorthernIreland.aspx


NI FACT SHEET - https://www.hmrc.gov.uk/factsheets/ef5-ni.pdf


Best wishes
If...x

Ruthie23

Thanks you v much for all your help. I'll contact the council tax agency and see if I can get a discount. It is good to kno that there are people out there that have some advice for me. I'll try the agencies that u suggest

JCS1

sniggings wrote: »

Northern Ireland is ok to go BR in, can't remember his name but the richist man in Ireland ran cross to NI to go BR lol

He did indeed, but the bankruptcy has now been cancelled as there were massive arugments about jurisdiction. Seems his creditors want him to go bankrupt in southern ireland where they are generally more strict


OP - you've had goood advice already, as both properties seem to involve your parents I would suggest talking to one of the free debt charities to go through all your options further.