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??
Hi My Husband has just left me leaving 2 children and substantial debt
Posted - 09 March 2012 : 14:36:38
