Thread: Advice needed,

Hi all

My husband and I have been dealing with our debts now for 4 years and we just can't do it anymore!!!

we owe so much and all our money goes on paying debts.

we have a monthly income of £2500
we owe £96k on mortgage, £50k unsecured and our house might get £140 we owe £19k to Lloyds TSB (credit cards & loans)
£5k to black horse (final balance after car taken)
£3k on other credit cards
£8k on car HP loan
£4k to overpaid Tax credits from 3 years ago.

omg that makes me cry just looking at it
we tried an IVA 3 years ago bu because our main debt is with Lloyds they wouldn't agree to it.

We are scared that if we go bankrupt the house will be taken and we will live in hostels with our 2 children (daughter is 12, son is 8. as i've heard the council are not obliged to rehome us.

We have no way of getting together deposit money to rent and we wouldn't even pass a credit search!!

any advice would be greatly appreciated

Hi,

sory to here of your issues we had the same, but mosu of the debts were in my name and not hte wife`s, after looking into BR in Oct 08 gettign all the information regarding every debt i filled for BR in Feb 09.

Our house is in joint names with no cash in it at all therefore the OR was not looking to sell the house and as long as we paid the mortgage and the secured loan we could keep the house, but it has to be in joint names.

All the debts were wrote off in Feb 09 and we have not looked back since

our debts were credit cards £20k, Loans £16k, personal guantranee`s £775k, CCJ orders £32k

Now iam BR all the debts have gone totalin gover over £1million S*** loads we know but is was my business debts as well, however BR is not for everyone please look int alot before you go ahead, but it was the very best thing we did and we sleep much better now


cheers