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| ajg35 |
Posted - 09 March 2012 : 14:36:38
Hi
My Husband has just left me leaving 2 children and quite a substantial amount of debt by ways of IVA, Mortgage and Secured loan. We have an arrangement at the moment by i pay the Morg and IVA and he pays the secured loan, I just trying to weigh up my options really as this loan is going to run for another 18 years and there is no way i can financially commit to paying it, he is also self employed so know that someday its going to fall down and its myself and the children that suffer.
The property is in majot negative equity so no point in remortgaging so thinking either voluntary surrendering the house or bankruptcy but dont understand the implications of either and how i would stand.
Also I own a car worth probably 5k but the finance is in my brothers name log book in mine could the bankruptcy take this or in the eyes of the law is the car legally the finance companies??
Many thanks |
| 3 L A T E S T R E P L I E S (Newest First) |
| ajg35 |
Posted - 10 March 2012 : 20:40:52
quote:
Originally posted by ajg35
quote:
Originally posted by Viki.W
Hi,
You will need to contact your IP to tell them of your change in circumstances. Your IP will be able to advise you on all your options.
Is your car on HP? If it is, how much is left to pay? Who has been paying the monthly finance payments?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
Hi
Many thanks for your reply the car has a further 14 months to run and yes on HP.
I dont make any payments to it my brother does as he owed me some cash.
Would this be taken into consideration do u think??
Many thanks again
A Green
A Green |
| ajg35 |
Posted - 10 March 2012 : 20:36:11
quote:
Originally posted by Viki.W
Hi,
You will need to contact your IP to tell them of your change in circumstances. Your IP will be able to advise you on all your options.
Is your car on HP? If it is, how much is left to pay? Who has been paying the monthly finance payments?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
A Green |
| Viki.W |
Posted - 10 March 2012 : 11:44:44
Hi,
You will need to contact your IP to tell them of your change in circumstances. Your IP will be able to advise you on all your options.
Is your car on HP? If it is, how much is left to pay? Who has been paying the monthly finance payments?
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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