Affect on Landlord?? I'll be out!!

photo_phil

Hi all,

I have used the CCCS site and the debt remedy option which recommends I file for bankruptcy. I have £43k of unsecured debts due to being in uni (mature student) for 3 years and some unsuccessful ways of making money during that time. I now have a £25k job so I'm keeping my head above water (cards on stop, paying min amount) but need to get sorted.

Main question is: I rent my mate's house off him with no formal rental agreement (payments on DD). If I go bankrupt how would this affect him and would he have to supply information as a landlord? Also, some of his correspondance comes to the house (buliding society, BT bill in his name etc). Will his credit rating be affected in any way? I am considering renting another property temporarily to use as an address to go bankrupt from to avoid any connection to his name/property as he'd probably ask me to leave.

Many thanks for any help. Phil

rufus79

I had a similar problem - I rent a room from a friend. In the end I was honest with him, we drew up a tenancy agreement (can buy the forms in WHSmiths) and that was that. The bankrupcy affects you, not the address nowadays, so his credit rating won't be affected. If you have a tenancy agreement the chances are he will not be contacted at all, unless he is also a creditor.

I was worried about being kicked out too, but in the end, when it comes to it, how good a friend would he be if he kicked you when youre down? Telling my friend/landlord was a positive for me, especially as my family don't know and only one other friend does. A true friend will support you when you need it.

NekoZombie

You can also find agreements online - for example outlet4homes have some you can download for free.

http://www.outlet4homes.com/outlet_contract_pack.pdf

Its what my landlord used for my BR.