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b199
Starting Member
17 Posts |
 Posted - 29 May 2010 : 15:18:55
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| hi all. help needed , notsure what to do, im going through a divorce ,and have had to sell my house , cos my ex is not helping me pay the mortgage, and the payments are so high unable to do it on my own, have a 13yr old and a 20yr old living with me, so house is sold was going to pay off debt of 10k. and then claim a very small % off housing benefit ive been told i wont get help at all for 5 yrs , so now what do i do? looks like i may have live off the 10k ,then go bankrupt, as i cant pay off debt and live at the same time. also i have a 17k loan ,which i was going to pay montly payments, notsure what to do now? dont wont a dmp. as ill be 90+ before its paid , any advice would be great ,also ive been down the mortgage rescue route ,but would be in same boat. |
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debtinfo
forum expert
2826 Posts |
Posted - 29 May 2010 : 16:06:18
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| Have you thought about making full and final offers with the £10K to pay all the debts, if you could do that then you would have no debts and hopefully enough to live on |
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b199
Starting Member
17 Posts |
Posted - 31 May 2010 : 18:26:30
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thanks for your reply ,but i wont have enough to live on,as only work part time,and all my wages will go on rent. etc
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debtinfo
forum expert
2826 Posts |
Posted - 31 May 2010 : 18:35:43
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You need to be able live from your income, the money will run out at some time.
If you make offers and pay all your debts at least that puts you in the position of not having any debt repayments each month |
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b199
Starting Member
17 Posts |
Posted - 01 June 2010 : 17:33:19
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if i do all that ,i will not be able to live , due to the fact that i will not be able to claim any housing benefit , which would be a small % at that .to be able for me to live off my income.
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Bridgewood
Junior Member
United Kingdom
222 Posts |
Posted - 01 June 2010 : 17:44:29
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Hi b199
I think the issue here is that you need to separate your debt problems from your income and expenditure problems and maximise your income from whatever benefits you can claim to assist your living expenses. CAB is usually a good place to go to get help in sorting out your I&E
I think the point debtinfo was trying to make was that, if you use the £10k surplus from the property to subsidise your everyday living expenses, it will eventually run out and you will still need to address the problem of how to fund your ongoing living expenses at some time in the future, whereas if you used it to reach a settlement with your creditors at least you wouldn't have to worry about how to deal with them in the future.
I would suggest you get advice from somewhere like CAb before taking any action
Best wishes
Bridgewood specialise in helping people deal with their debts and make the most of their financial situation - providing free, no obligation debt advice.
We can also setup a complete range of solutions including debt management plans, IVA and bankruptcy support. |
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hi all. help needed , notsure what to do
