Sage and timely advice, thank you - i will post what happens as time goes on. I know time is a healer, but sometimes hurt comes bouncing back when you least expect it, esp now. Fingers crossed on the interview Tues - 10.30am I'm 36 and live with my dog an english springer bitch whom i walk in the local hills alot...quiet life for the moment.....

As for equity in the house - my family lawyer worked out that i would have been entitled to around £25k, so i should imagine when the OR see's the documentation it may just give them the opportunity to recover some of debt under that liability from her - given the full story to them i don't know if they will either care or just see an opportunity to get some money, i hope they will. I would be most surprised as there can be no funds from me, as i'm utterly ruined and just surviving as it is, so surely it would make sense to chase a potential alternative despite her having gone to the effort of removing herself from the security after we split, as during the marriage the debt was built up under that security she went guanrantor for. The equity she has in the house even inlcuding recession prices for houses is my estimate at least £100k - given those figures who do you think the OR will try and get money out of?!. I would hazard a guess but it sure aint going to being me..

That makes for some very intresting reading - one thing is for sure whenever i do get on my feet again i'll not be looking to anyone or any bank for funding, if it can't work, it shouldn't work. If i have to get it on tick - it simply ain't going to happen. I will be making a formal complaint to RBS about how they let all this occur and how it ruined my chances of a divorce settlement and being in full facts of the situation about it to, whether i get anywhere is anybodies guess, but it'll be worth a punt i suppose. I dont know what to think sometimes about how it all came about, i made mistakes becasue i was nieve in my thinking, brimming with confidence having got just married and trying to live a new life with me building a business for my 'family'...but as the saying goes the best laid plans of mice and men... Personal Guarantee's - the devils spawn when it all goes wrong. Tawnyowl - how come you know so much?, indeed it looks and sounds like you are a wise owl indeed!. As for bankruptcy - i'm utterly frightened by it, as my father some 15 years ago went through it and it really tore him apart. But it could just be the closing of a 6 year chapter in my short life that ensures my future isn't in the hands of some nasty debt collector who cares nothing for what i've been through for the next 20 years. The past 6 years has seen love happen, has seen fathers in prison for doing something exceptionally stupid, divorce, cancer and now financial ruin. In part i want to hang on as it does mean finality in my own mind as to my marriage, make no bones i loved my wife with every fibre of my being and would have given up everything for her, two years past since we split and still i find myself seeing a picture of us as i'm tidying up and i well up. Perhaps it will ease when i have this over and done with, one can still live in hope of a better future. Perhaps its just around the corner as i have a job interview on Tues - which would bring stability and confidence back into my life...fingers crossed eh?

Thanks Tawnyowl... It's got to the stage after discussing with 2 insolvency practioners, CAB and CCCS that bankrupcty is now my only option. I've waivered and waivered and tried to find out as much as i can before having to make this decision, but i have a failing business on my hands mixed in with depression and low self esteem as a result of the past 2 years (my dad also had cancer for the 2nd time) The advice given tawnyowl is excellent, if only they taught that kind of stuff at Uni/College then perhaps the world would be a better place. My primary cause for coming on here is to voice a sense of feeling in regards to what other people know or have experienced with issue of Personal Guarantee, as at the time of the business working, ie, it being a joint and several liability supported by her via a security on the house - will the OR go knocking on her door?, cruel as it may sound i would hope they do, becasue she threatened me (disguised as 'explaining my options') to make me bankrupt and she acted on it in malice - in effect to do me some very serious harm as she simply didnt like the fact she was responsible for the destruction of our marriage and wanted to take it out on me. I wish no harm, but becasue she acted in the way she did with the security and RBS, she may have in effect shot herself in the foot?. What she should have done was settle the agreement and stuck to it, rightly or wrongly i feel she has planned every step of the way to not have to pay out in divorce to save her own ass and she found a way....but will it backfire on her surely?, as it may not be me chasing settlement anymore but the accountant in bankruptcy, as one thing is for sure - she may have kicked me when i'm down, but the AinB sure as hell wont tolerate the agrguments about who is liable or not and that she is no longer responsible. Fact is a portion of the debt (£20k) was built up under the agreement before she 'resigned' her obligations. Does that not make her in part liable?

Hey folks, I know the title sounds confusing but – I’ve been advised my only option is to go bankrupt, it is now my only option. But my questions are (if you can help would be really appreciated) A ‘Securitised’ Guarantee (to start a Ltd business) was granted by RBS secured on the marital property when I married my now ex-wife, (the house was hers before we got married, but she agreed to go guarantor). Laterally through the divorce mill she threatened to remove her guarantee under the T&C set out by RBS in a nasty I’m going to make you bankrupt e-mail (she claims to have bipolar disorder) I warned RBS she was going to do this over the phone, they said don’t worry we are not going to let it happen. It did, RBS let it and my ex in effect resigned her obligations to the bank….nice when you consider it totally ruined my divorce battle as the whole basis for financial settlement was to give me a certain amount which paid of the security on the house, I remove the security and bingo we’re divorced….not so. As soon as I wanted to sign of on the minutes she backed out as it ‘didn’t suit her’, i digress, her actions made the then agreement null and void, as the guanrantee was the main jist of the agreement. Thus i had to accept a no blame divorce just to get rid of her. Luckily for me i still got my bike back...umm Now the security is a personal guarantee for approx £28,500k. RBS have called it in – even though I told them they ruined my divorce by letting her do this and that no funds where on the table to assist any form of repayment options. Even though I did apply under the Enterprise Finance Scheme to restructure and reorganise my business affairs in a time of recession – but RBS said no….nice. Crucially the debt was at the time built under a joint and several liability (the paper work proves it) as she went guarantor and my crucial question is this – I have to go bankrupt, I have no choice. It is my circumstance, I haven’t been well mentally (depression) and my motivation to keep going has all but disappeared. I’m now making coat hangers on the minimum wage in order to re-build my life. I used to be able to charge £7k p/week for my services, that’s how much damage has been done. Based on this info – will the accountant in bankruptcy choose to pursue my ex-wife for the funds ‘promised’ under the guarantee (even tho she paid a corporate lawyer £0,000’s to get out of it), as the debt was built up during the marriage?. I have correspondence from RBS indicating they cannot call on the business for the debt, just me. I have personal debt built up which is now unmanageable due to my current employ. Estimated total debt – between £50k & £60k Apologies for the long winded explanations – it’s a lot to explain.