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Help, please......
Psychokatz
Posts: 23 Forumite
My husband has accrued nearly £90,000 of debt and is in the process of tyring to make temporary payment offers to his creditors as it is impossible to meet the monthly payments.
Most have been agreeable and have entered into arrangments which will help no end. However, one of the creditors are insisting (stating legal requirement) that I declare my income which wil be taken into account when they agree any future payment plan.
There are no joint accounts or debts.
Do we/I have a legal obligation to send this info? If I am honest I am loathed to send this and only will if it is illegal for me not to provide. My reason being is our relationship is now in threads and any spare money I have I need in case I have to find somewhere else to go - which I think will happen, just not sure when... really don't know what to do
Am considering bankruptcy - but hubby unsure, we have no assets, home is rented, car needed for work.. really don't know what to do.... and this is having a massive impact on our marriage.
Most have been agreeable and have entered into arrangments which will help no end. However, one of the creditors are insisting (stating legal requirement) that I declare my income which wil be taken into account when they agree any future payment plan.
There are no joint accounts or debts.
Do we/I have a legal obligation to send this info? If I am honest I am loathed to send this and only will if it is illegal for me not to provide. My reason being is our relationship is now in threads and any spare money I have I need in case I have to find somewhere else to go - which I think will happen, just not sure when... really don't know what to do
Am considering bankruptcy - but hubby unsure, we have no assets, home is rented, car needed for work.. really don't know what to do.... and this is having a massive impact on our marriage.
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Comments
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katz
Welcome
I cannot answer your q re declaring your income regarding debts, but someone will.
You may want to go over to the bankruptcy board for some additional support.
You also need to talk (or at least OH does) to one of the debt couselling charities. They can help him, and you if appropriate, decide what is his best choice.
See here for contact information
http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1103204730,72152,#counselling
If he goes BK, the OR will need to know about your income to make sure that you are contributing fairly to the household expenses listed in his SOA(half the leccy for instance).
In the meantime, you can talk to folk here as much as you need, whatever the outcome and people will support you.If you've have not made a mistake, you've made nothing0
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