£37,000 Debt what shall I DO ?

ANNIEHAHA

Iam A Freiend Of Anniehaha.i Am Married,our Maritial Home Is Not In My Name,we Have Two Other Properties Which Has No Equity And Are Let Out Which Just Covers Mortgage My Name Is Attached To These Two
I Was Thinking About Getting My Name Off These And Going Bankrupt,as I Have Run Up Alot Of Debt (£36,000),my Husband Has Not Been Any Part Of The Debt,i Wondered If He Would Get Penalised For This Can I Go Bankrupt On My Own?

philnicandamy

first of all
You should either:
Get an appointment to see a 'money advisor' at your local 'Citizens Advice' office.
Call the Consumer Credit Counselling Service. Tel: 0800 138 1111 http://www.cccs.co.uk/
National Debtline. Tel: 0808 808 4000 http://www.nationaldebtline.co.uk/
Payplan.Tel: 0800 917 7823 http://www.payplan.com/
If you have any questions about the process of going BR, it's implications, pitfalls etc then feel free to start your own thread on the board.
Useful info can also be found on: http://bankruptcysupportersclub.co.uk which is a site run by a recent member here.

RAS

You ned to talk to one of the main debt charities.

However, if you transfer properties from your name just before going bk, the OR will ask questions.

There are circumstances when there is no equity and it is possible to keep property or the OR will sell the beneficial interest to your OH, but you need expert advice on these.

tight_jock

Hi
you must take FREE professional advice first as already advised.

The OR may take a dim view if you have transferred property a short while before BR and will probably declare an interest in it.

Your OH does not have to be declared BR if you choose to do the deed yourself
:beer:
TJ

firebird1

Mmmm, if you remove your name from the title of these properties, the OR will smell a rat.
I am 100% sure they will find out, even if you don't tell them.
This will cause him / her to ask a lot more in-depth questions, more questions than you might have answers for.
Remember 1 lie always leads to another.
Perhaps BR, is not the way forward.
But,
DONT TAKE MY WORD FOR IT.
I am simply saying what I would do.
Get serious professional help/advice