Advice please?

louisejan

HI

I have read through alot of the sticky's but i'm sorry i expect this question has been asked a million times..

I am wondering if BR is the best option for me, I have about 5k of debts and a 20k (min) shortfall on my house (if it ever sold)

The house is in need of urgent repair which i dont have the money for, and no way of moving while this hangs round my neck i'm struggling with payments and the thought of being like this for another 20 years is sickening ! i'm currently on an interest only mortgage and work ..

If i claim BR even though the house is not sold so the shortfall is unknown could this be added?

I also was overpaid Working tax payments last year can this be added?

Should CAB be my first point of contact?

Thanks in advance

fermi

The house shortfall and WTC overpayment would be covered. Assuming for the house that you didn't sign anything re-admitting liability for the shortfall after BR.

Does seem a small amount to go BR for, in anticipation of the larger shortfall anyway.

As you say, talk to CAB. National Debtline etc....

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

Only one of the organisations there can really help you decide.