help ... just found out partners in debt

nasty_surprise

Hi Please be gentle I’m a first time poster.
I have just recently found out that my partner is in a lot more debt than she thought she was in. she thought she owed about £25000 and contacted a consolidation company (one of the better ones) who looked at here credit rateing etc and totalled it up to nearly £50000 :eek: I went bloody ballistic as you can imagine. I am a very hard working man in a decent job she is a dotty lovely person who suffers from Dyslexia and is away with the fairies most of the time but is lovely and is I the caring profession. We are waiting to get a full list of what she owes.
We live in a nice house worth approx. £200000 and we have no kids what are my options to help here out. Can she go and live in a flat and make a "clean break" will that protect the house from her debtors as she was on the
Mortgage.
People if your partner is useless with money make sure you know what cards etc they have / had or you too could be in our position.

Any ideas / suggestions welcomed.

tigerfeet2006

Hi and welcome to the board.

The first thing you must do is talk to one of the debt charities. They will talk through all your options with you. If they advise that bankruptcy is the way to g then we can give you lots of support and advice. The judge will also ask her if she has done this if she goes BR and can delay her petition until she has done this.

As for the house, is there any equity in it? If there is she will be given a chance to find someone to buy her beneficial interest in it. If there isn't then she will be given the option of finding someone to buy the OR's interest in the future BI for £1 plus the OR's expenses of £235.