How scary is this.

kevw666

Hi i am new to this but having spent time looking at all of you becoming debt free. I think its my turn to try.

Thing is that i have spent eight years after a marriage break up hiding from the fact that my ex-wife went bankrupt two days after we split and because all debt was joint it became my problem. I have met and married a great lady who is very supportive and hence think it is time that we both stop living with the stress.

My debt mounts up to about £70k.:mad:
Although I find it difficult to remember who all of my creditors are and how much I owe.

My car is valued at about £3k and is on hp and is also very much needed to do my job. Will I lose this. And my oh is worried about what they may take from our Housing Association home.

Can anyone shed any light on any of these points to start with.

And nice to meet you:D

gettingitsorted

kevw666 wrote: »

Hi i am new to this but having spent time looking at all of you becoming debt free. I think its my turn to try.

Thing is that i have spent eight years after a marriage break up hiding from the fact that my ex-wife went bankrupt two days after we split and because all debt was joint it became my problem. I have met and married a great lady who is very supportive and hence think it is time that we both stop living with the stress.

My debt mounts up to about £70k.:mad:
Although I find it difficult to remember who all of my creditors are and how much I owe.

My car is valued at about £3k and is on hp and is also very much needed to do my job. Will I lose this. And my oh is worried about what they may take from our Housing Association home.

Can anyone shed any light on any of these points to start with.

And nice to meet you:D

Hi Kev welcome ,

The easiest thing to do is get your credit reports from equifax and experian and have a good read through them

Step 2 would be to seek proff advice from either https://www.payplan.com
or https://www.cccs.co.uk. once you know your figures

Cars on Hp are not taken by the OR but can and sometimes are taken back by the HP company .

Unless you have valuable antiques or things such as plasma tv ,general household items are not classed as assets

https://www.insolvency.gov.uk is another valuable source of information


Hope this helps

sweeper12

Hi Kev

I'm not entirely sure about the car but I'm sure someone else here will know. What I do know though is tht unless you have some very expensive gizmos in your house, plasma screens, works of art or anything of the sort, your contents are yours to keep in BR. They will not touch anything that is used for daily living such as furniture, TV etc or kitchen appliances so don't worry about that.

kevw666

Good grief that was quick.

Thankyou very much I am sure everyone on here are about to become my new best friends (poor You)

tight_jock

Hi kev and welcome.

You also have the option of the CAB money advice unit. Make sure you get the money advice person though as not all advisors have the relevant knowledge for this stuff.

:beer:
TJ

gettingitsorted

kevw666 wrote: »

Good grief that was quick.

Thankyou very much I am sure everyone on here are about to become my new best friends (poor You)

Thats ok by us .

just ask away

Bakeybadoo

Welcome! You've had some great advice already so I just wanted to pop in and give you a wave!

kevw666

Hello again,

I have an experian report but cant see how to get the information i need from it.

Anyone help:huh:

Bakeybadoo

Have you got an online one or a paper one?

kevw666

Paper one sent to me but will get online one if it makes it easier

Bakeybadoo

Ok, well you are looking at account information, it'll list the people you owe money to. It'll also have status reports (if you've paid on time or not) next to each of them. Listed something like 'number of status 1, 2, 3...'

The company name, how much you owe, the current balance (well as up to date as to when you applied for the report) and the status.

You might be better getting the online 30 day free trial from Experian if you got that report a while ago, that way it's up to date.