Relationship breakdown

BP1ME

My bf moved back with his parents, no discussion, no talking. Just moved and got the estate agent in today and put the house on the market. Of course I have to sign too.

I have pretty major mental health issues and I am devastated. My illness is finally stable and then he does this. Ive had the papers for 3 hours and now he's threatening to get his solicitor onto me. I'm devastated but must get to grips with this. I own 50% outright and expect to get 110-120k. I have 7600 on a DMP so will pay this off. In the SE so cannot buy a shed with this money. Devastated to have to go with 2 kids into rented accommodation.

I have issues with money. Ive been in debt for 20 years. I'm so worried I'll blow it all.
How can I put this money away? I will have 2300 a month of which 1200 will go on rent. So I can manage without. SO upset and emotional that I can't think straight.

Zoology_Dragon

Do you have to agree to sell the house? I'm concerned that you've pushed into agreeing to something you don't really want to do and may not be in your best interests.

BP1ME

Unfortunately I have no choice. I signed a declaration of trust at the height of my illness saying either one of us can sell at any time. At least my 50% is protected but I can't understand his refusal to taik and I'm so upset and devastated but I have no choice. I can't bear to tell the children. I don't know what to with all the stuff. all our hopes and dreams gone.

Maysie

I wonder if you were not in a fit state at the time if it would stand as binding? It might be worth getting in touch with a mental health charity or Citizens advice. http://www.mind.org.uk/information-support/guides-to-support-and-services/financial-help/

rockm87

sorry about your situation, i completely agree, get some advice and support.

Mind are great. give them a call.

then you can sort yourself out, there are debt charities such as step change who should be able to help, and honestly rented accommodation isnt always that bad. I rent, and i LOVE my flat, its beautiful. Its only temporary if you let it.

good luck xx

Pixie5740

You might find this guide by Shelter for relationship breakdowns useful.

http://england.shelter.org.uk/__data/assets/pdf_file/0020/23393/ShelterGuide_RelationshipBreakdown.pdf

In fact you could also phone Shelter for advice.

Whatever it says in the declaration of trust you will both need to agree to the sale of the property. Yes he can go to court to force the sale but that will take time, time you can use to get your ducks in a row.

Is he the father of your children? If so and if he isn't currently paying any child support then use the Child Maintenance Service.

As for paying of your DMP debts if/when the property is eventually sold you probably won't have to repay the full £7,500 as you could offer full and final settlements for less.

HappyMJ

You are going to have to find someone to give you financial advice.

You can lock the money away so you can't touch it and turn it into an income stream. £100,000 could pay you £500 per month for quite a long time. You need to be careful though as some investments could cost you your capital. Your financial advisor will suggest how to split it over cash, stocks and shares to protect some of it and invest some for growth.

In 6 years once your credit is restored to full health on your income you should be able to qualify for a low interest rate mortgage and can pull the money out to put down as a deposit on a house.