Help needed

maxmycardagain

sounds like you would only need him to go BR then, losing all the debts, retaing the house (if you wish), you could buy his BI (beneficial interest) which with negative equity would cost only £1 plus the £250 admin fee

you need to spaek to the CCCS or CAB services armed with what you now know

maxmycardagain

d1anac wrote: »

car we have just hired one from hubbys works at £209 a month straight from his wages, all we have to do is put diesel in, no car tax or ins, because we cannot afford to repair ours (its worth about £800) repair bill about £450 to get it through mot,

can you get that on paper?

pukka hire is about £65 a week , but gives you an invoice for proof.

i dont know the OR's stance on hired vehicle costs as its usually a large amount, and a purchased car is usually cheaper.

d1anac

thank you, i will try the cccs tomorrow after work, i've already tried the CAB and they didnt know about they house they sent us to payplan, but hubby is right we cannot go on like we are, he wants to get it sorted once and for all, not be uncertain with payplan, the interest on 45k is increasing daily and he reckons he wont live long enough to pay off the debt, ive just been procrastinating cos i dont want to lose the house

d1anac

hubby works for *** in **** he makes **** so he got a car on works scheme, its sort of a purchase, but you hand car back after nine months and just get another one if you want it.

maxmycardagain

sometimes negative equity aint such a bad thing.....

good luck, report back..



edit your post, remove employers details

too much info!.

d1anac

Well I phoned CCS and thery told me to ring the insolvancey service, cripes my spelling is crap! explained uncomings and outgoings to them today and they told me I have 2 options, stay with payplan @ £150 per month or to do an IVA i@ £63 a month? seems strange to me...

So any helpful information on IVA's would be good, he explained they are generally for 5 years, review every 6 months incase your circumstances change, after 4 years they may ask you to remortgage and pay off the 5th years payment, they said after that the debt will get written off, they creditors are not allowed to contact you etc etc... and it would enable us to keep the house. but we have heard lots of horror stories about IVA's so just wondering what

peachyprice

Well that's very strange asdvice as the minimum payment for an IVA is £200 and they'll want more on £45K.

I don't understand why they're advising against bankruptcy when you're in negative equity, you won't lose your house if just your OH goes BR as you can buy the BI.

d1anac

yes i thought it was strange, i said to him about bankruptcy and he gave me different advice to the gentleman i spoke to on Friday night at the insolvancey service, (had to wait for o/h to come home for them to deal with me, as its his debts). What with the interest its more like 50k now! this man today told me the hubby wouldnt be able to pay anything towards the mortgage whilst being a bankrupt ( in the first 12 months) as they would take that money and give it to the creditors, so now i'm really confused

peachyprice

d1anac wrote: »

this man today told me the hubby wouldnt be able to pay anything towards the mortgage whilst being a bankrupt ( in the first 12 months) as they would take that money and give it to the creditors, so now i'm really confused

Diane, that is complete and utter bo11ocks! Please, please, don't listen to this man, he is so totally wrong.

Was this a CCCS person, or insolvency service? Whoever he was he should be reported for totally misleading people.

d1anac

yes it was a man named Lee from the insolvency service 0800 074 6918