Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
Please, Please is there anyone out there who has had experience of both personal and business debt - I am at a real loss and feeling so down about it. Not sure who to ask for help really - business debt line/cab, -?If we go to solicitor who can I be sure that I am not paying a load of money for nothing? This site is so good as it is run by people who have had first hand experiences - which why it works - like they say the best things are free!! It's not my debt but my husbands (married 10 years) and my real concern is the house. I am sure that he is on his way to bankcrupcy - it may not be now but it is on the horizon and I am so worried that we will loose all equity in the house - I have a trust deed via the solicitor that shows I put down the deposit on the house when we bought it 13 years ago - the house is in his name with me have an interest shown on the land registry.
Our relationship is on the rocks and it could be that we end up seperated - who would that work with regards my equity?
Is there anyone who has been in similar situation who could either thread on here or pm me - feel out on a limb on this one - most of the threads I read are for personal debt only.
The debt is to the tune of 70k ouch - equity in house 85 ish at a push poss less in this climate.
First of all when a business is tied up with the proerty then it is more complicated and although you may get some help here it may be worth a visit to a solicitor or CAB first for professional advice. If you go to a solicitor the first 1/2 should be free and then you will be suprised what you can get answers to within that time if you take a list of questions with you. It is good that you have an interest lodged at land registry - but there are lots of factors to take into account . Have you ever had to sign any forms regarding debts etc on the property?
I think maybe your thread is in slightly the wrong section - but hopefully some other posters will coma along with some support as well.
There is a similar case in the mortgages and secured loans section at the moment where the main residence is at risk because of the business may be worth a read.
Also there is a good site Website of the UK government : Directgov which has a section on money /arrears / debt which has some good links to other sites such as the insolvency site. You may be able to ask them how your husbands insolvency will affect your share of the house.
Because of the equity involved a solicitor will be your first move - perhaps CAB can recommend one who delas with family/ and or business law?
Please note I am not an expert - I am not offering opinions or legal help - Please use all the information provided on the site in FAQ- step by step instructions and library- thanks Jansus
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offer from A&L 24/8/07 - after case stayed
"What makes the desert beautiful is that somewhere it hides a well." - Antione de Saint Exupery
He Has One Secured Loan Of 23k Against House. Credit Cards Unsecured 30k I Think At Some Point About 5 Years Ago I Signed A Bank Thing At The Time I Asked If It Was Secured Aginst House - Which Was Quite Clear It Was Not - But Now I Am Thinking That It Is A Personal Guarantee. The Bank Over Draft Then Was Set At 10k
Sole Trader.
I Am Resigned That We Will Probably Have To Move At Some Point - If Things Don't Pick Up. But Would Hate To Loose Every Single Penny In The House.
Morgagte On Payment Hols At Mo Then On interest Only For One Year Poss If They Under Write It. Morage 71k. Secured Loan 23k House Worth 185k Poss Less In This Climate.
We Are Currently Talking To Our Suppliers To Negotiate Some Payment Plans The Largest One Is For 6k Another For 2k Others V Small. Bank Is On 25k Unsecured But Poss Guaranted Over Draft.
What A Mess!
Feeling V Down Wth It All - Jsut Want It All To End - Never Have I Wshed A Way Time More Than Now!
Personal/business debt - please advice
shown on the land registry.
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Re: Personal/business debt - please advice
