can I go bankrupt

[db1984]

Will try and make this as short as I can with as much information as possible so u can understand the back ground

 

Basically me and my ex partner split 5 years ago we have 2 children together and were jointly buying a property together

 

When we split she agreed to sell the house but as time passed the house didnt sell I got into a new relationship and my ex started playing games she then decided to take the house off the market and refused to sell it. After several visits to a solicitor it became clear I had no rights to make her sell the property as we had children living there.

 

So its all been ok for 3 years untill I started getting letters to say she wasnt paying the mortgage, council tax was in arrearsi confronted her and she said she sorted the council tax and was in the middle of srting the mortgage. I then had baliffscome to my parents property to recover debtfor the council tax

 

Well come to it now that the house has been repossessed and there will be a shortfall of about £40.000 between us.

 

Im really concerned about this and feel through her games she has landed us in a right mess.

 

I have a decent job earning about £2000 a month but feel im going to be paying this debt off for the next 15 years whuch will then take me to being 45 years old. I will then have no chance of being able to set up and buy my own home again

 

Any advice would be greatfull

[db1984]

Just to add to the post the debt for the shortfall of the mortgage will b joint and to my knowledge can not be split seperatly between us. So even if I do pay my half and she chooses not tk pay her half I will still be chased for the arrears

[renegadeimp]

She can be chased as well. DOnt forget that.

[db1984]

I know she can be chased I just feel like ive done everything I can the passed 5 years and will be doing what ive gta do by paying my share to still get chased byecause she dont keep up with the agreement

[renegadeimp]

Why arent they chasing her instead of you?

[sequenci]

Why arent they chasing her instead of you?

 

He works and I'm guessing she probably doesn't?

 

As far as joint debts are concerned, the rule of joint and several liability means that either of you can be held liable for the full amount. As such should you become bankrupt your liability would be removed and she will be chased for the full amount of the joint debts.

 

On the face of it Bankruptcy sounds like a very viable option for you, this fact sheet is good:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=01_bankruptcy

 

You've only posted up very general info so do make yourself aware of any potential implications (very few in the grand scheme of things).

 

Shout if you have furtehr questions.

 

Best wishes,

 

Seq.

[Old Cogger]

he works and i'm guessing she probably doesn't?

 

As far as joint debts are concerned, the rule of joint and several liability means that either of you can be held liable for the full amount. As such should you become bankrupt your liability would be removed and she will be chased for the full amount of the joint debts.

 

On the face of it bankruptcy sounds like a very viable option for you, this fact sheet is good:

http://www.nationaldebtline.co.uk/england_wales/factsheet.php?page=01_bankruptcy

 

you've only posted up very general info so do make yourself aware of any potential implications (very few in the grand scheme of things).

 

Shout if you have furtehr questions.

 

Best wishes,

 

seq.

see a way out there!!

 

She gets her up and commence, you then breath a sigh of relief and get on with your life,

[sequenci]

That's about the size of it.

 

And right now you need to look after number one.

[db1984]

That's about the size of it.

 

And right now you need to look after number one.

 

I really wasn't in to score points but I have tried everything with this woman and no matter what i do is never right. I have paid for my children from day 1 and she causes problems that aren't even there.

 

Like I say I've made arrangements with mortgage company to have payments reduced shes agreed and then still not paid.

The council tax issue she told me it was a mistake on there part and shed been paying it. I told bailiff what time she would b in, afterwards I called the bailiff and she gave him a cheque for a set amount and had set up an agreement for the rest of the money.

 

I just don't feel like I'm ever Gna b free of her financial unless I go bankrupt. If I have to pay the amount I will b at least 45 still with no foot on the property ladder just don't see how I can make a fresh start.

 

Do you think they will say I earn too much to go bankrupt?

[renegadeimp]

There are tons of people at 45 with no foot on the property ladder. The rich/upper class are pricing everyone out by way of inflation.

[sequenci]

I really wasn't in to score points but I have tried everything with this woman and no matter what i do is never right. I have paid for my children from day 1 and she causes problems that aren't even there.

 

It's not about scoring points, it's about doing what's best for you, forget anyone else.

 

Do you think they will say I earn too much to go bankrupt?

 

If you have disposable income they'll ask you to pay it in to the bankruptcy for 36 months - it's called an income payment agreement.

 

That fact sheet I posted up is very good