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BR and Mortgage
weareone
Posts: 11 Forumite
Hello
I was made bankrupt in Aug 2012 an have still struggled to pay all my bills since. I have struggles to pay the mortgage and have no stopped paying it with a view to be repossessed. I am even getting into more debt with utilities and council tax as we don't earn very much so we have decided to move to a different area and start a fresh as we have a friend who has offered is work and a place to live. We are also possibly being made redundant in May. We are so down in the dumps we need to do something!
Question is can I do anything about the debts I am incurring now? With regards to the house can I just leave and post them the keys back or wait for them to repo?
Many thanks
I was made bankrupt in Aug 2012 an have still struggled to pay all my bills since. I have struggles to pay the mortgage and have no stopped paying it with a view to be repossessed. I am even getting into more debt with utilities and council tax as we don't earn very much so we have decided to move to a different area and start a fresh as we have a friend who has offered is work and a place to live. We are also possibly being made redundant in May. We are so down in the dumps we need to do something!
Question is can I do anything about the debts I am incurring now? With regards to the house can I just leave and post them the keys back or wait for them to repo?
Many thanks
0
Comments
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Anyone?
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Any shortfall on the mortgage will be included in your bankruptcy, so don't worry about that. Is the mortgage in joint names with anyone else?
Post bankruptcy debts however are a problem and you must rebalance the equation money in equals money out.0 -
Thank you.
It is in joint names but my partner is bankrupt also.
This is why we need to move to get better jobs as we just can't make ends meet at the moment and we certainly do not live beyond our means.0
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