Advice on going bankrupt

Discussion in 'Army Pay, Claims & JPA' started by PANZER_SOLDAT, Feb 8, 2010.

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  1. Removed due to someone not having a life
     
  2. in_the_cheapseats

    in_the_cheapseats LE Moderator

    Mate,

    You need proper advice and not from this site.

    My own view is you'd be bloody silly to declare. Get yourself a good lawyer and financial adviser and get decent advice.

    Good luck.
     
  3. Cheapseats is right. This is not a straightforward area, and you need proper advice, from someone who is qualified to give it, and who is in possession of all the facts.

    Good luck
     
  4. samm1551

    samm1551 Old-Salt Book Reviewer

    A. I am not sure on, depends what arrangement she can come to with the mortgage company.
    B. Mortgage companies are legally obliged to get full market value for the property IF they repossess, which they may not do.

    Make sure you see a good solicitor because they can recommend a resolution. Ask them about a deed of separation - that can sort any financial issues before court and she would then need to get decent legal advice. They may also say that bankruptcy is not an option you would want to take. Least of all because in 3 years when it is all over and you meet someone else and want to settle down your credit history will be fucked and you won't be able to live a decent life without relying on someone else.
     
  5. Are you still serving? If not why not keep the kids yourself and get her out, that way she pays CSA and you progressively buy her out of the mortgage. But the other advice is definitely the most valid - get a solicitor and quick!
    Alternates are going for rental of the property and moving into MQ with kids?
    Hope you get something out of it, unpleasant all round, sorry.
     
  6. Don't do it, she'll come out smelling of roses leaving you in the poo, just my personal advice from experience. Seriously though, get pro advice
     
  7. Removed from prying eyes
     
  8. Banker

    Banker On ROPs

    Drop MDN a PM, he's all over this type of stuff..............but bankruptcy is, as a general comment, a really dumb move.
     
  9. Don't do it, it you can as it hold all sorts of reprecussions later on.

    Speak to someone who can give you thorough advice like CAB or suchlike.


    Good luck.
     
  10. Correct - go to your local CAB and talk to the Debt Adviser. If they are anything like my mother-in-law (who is one!) they will give you good advice and will give it to you straight.
     
  11. Bankruptcy can affect getting a job especially if any clearance is required. I had my house repossessed last July and it not easy even getting somewhere to rent, most landlords want 3-6months up front and a guarantor

    CAB are ok but can give wrong information, IMHO you may be better going to a specialist solicitor it may cost £60-100 per hour but may save you money in the long run

    Good luck
     
  12. Banker

    Banker On ROPs

    Dude, PM MDN, you'll be glad you did
     
  13. Removed from prying eyes