I have so many questions! I am going to the court on 27/10 and am panicking!! I have approx 33k of debt from previous marraige and most is in my name. Will my ex be liable for any joint loans? What are the chances of not being declared bankrupt as i am contemplating cancelling my direct debits for the coming month. I do not own a property. I now live with my new partner who is very supportive, bought me a car, i pay her half the mortgage and half towards bills, but because of my bad credit i could not get on the mortgage or any bills accounts. I earn approx 1300 a month net and my employers have been told about my pending b/r and they are very supportive. how much am i likely to have to pay back per month? Can they take my car away? Paid for by partner but registered in my name - we have her bank statements to show the judge/ reciever to prove i owe her for it (3,000) plus i use it to commute to/from work.
Sorry for so many questions but i don't know who else to ask!!
Your ex will be chased for any joint loan as you are jointly and severally liable for them, so she will have to come to an arrangement with the creditors.
If you cannot afford your payments, then you are insolvent and there shouldn't be a problem with you being declared BR.
What you pay back will depend on your disposable income after your other bills have been paid. Anything over £100 after that will mean that you have to pay between 50 and 70% of the surplus across to the OR.
Not sure about the car, one of the experts will be able to answer that.
I have so many questions! I am going to the court
Posted - 29 September 2009 : 20:18:09
