Jump to content


Don't know what to do, thinking about BR!


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 4006 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi, I am new to the forum but have read many posts. I'm hoping someone has some pearls of wisdom!

 

Not sure where to start, currently on a dmp 3yrs with my hubby still have 50k debt including CO on the house. Is it possible for me to go BR for my sole debts and my hubby take on the joint ones? The CO means there is no equity in the house at the moment but this is joint as is the mortgage. would the house be sold anyway? I work part time we have 2 children so my income is nominal. This debt is putting us under so much pressure and i am not sure how much longer we can cope, everything seems to be going wrong! Could my hubby stay on dmp? He can't go BR due to work.

Link to post
Share on other sites

Thanks for your replies. My husband deals with cash often at work, don't think he would be insured if he went BR. I can't see any clause in his employment contract regards to BR but I 'm almost certain it would be a problem.What about my name being on the mortgage what happens with that?

 

Thanks

Link to post
Share on other sites

lots of jobs handle cash and are not affected by bankruptcy, have a close look at the employment contract or perhaps ask the unions or an anonomous call to the HR department

 

You would continue to be on all secured debts including the mortgage, The OR would take and hold your interest in the property and may in the future sell it back to you or your partner

Link to post
Share on other sites

  • 3 weeks later...

It happened to a family member of mine 2 years ago although it wasnt a joint mortgage. The house was sold in negative equity, The lender accepted the best offer at the time which was £17000 less than the borrowed amount. The lender then sent a demand for the balance which caused them to go into bankruptcy which inturn wiped out around 40k of further unsecured debt. Family member said it was good as they could sleep easy without the debt worries. Dont be itching to get new credit as in todays climate a single default can stop you getting an account or credit.

˙os op oʇ pǝʞsɐ ssǝlun ǝƃɐssǝɯ ǝʇɐʌıɹd ʎq ǝɯ ʇɔɐʇuoɔ ʇou op ǝsɐǝlԀ ˙pǝɹnɔɔo sǝssol ʎuɐ ɹo ǝɹnlıɐɟ ɟo ʇlnsǝɹ ɐ sɐ ǝlqɐıl plǝɥ ǝq ʇou llɐɥs I ˙llıʍpooƃ ɟo ǝɹnʇsǝƃ ɐ sɐ os ǝuop sı uǝʌıƃ ǝɔıʌpɐ ʎu∀

Link to post
Share on other sites

  • 3 weeks later...

Have to agree with you there liquid, I am seriously planning that route myself. I think this would give me a complete clean start. Marriage over. 40k unsecured debt I can't pay. House and Secured Loan left for me to pay by ex. hmmmmmmm it is so tempting to just stop the mortgage and SL payments. Girlfriend wants me to go back living with her so who knows... It's just the thought of my twenty plus years in this house with my memories of my kids etc. though now they are teenage brat's who never even ring to ask how I am.... oh decisions decisions..... How long I wonder would it take for them to reposes the house????

 

Girlfriend back form Auz on Saturday,,, serious talk me thinks.... Nearly everyone who has gone BR says after that it is the best thing they ever did. I am 52 in a job where BR does not matter. I just don't want my girlfriend being penalised for me living there. I know insurance and things like that can be tricky. Will keep you posted as to my decision.

[sIGPIC][/sIGPIC]Happyhippy1959

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...