Law0 min ago
I had to re-post as I could really do with some more opinions...!
To cut a long story short... (some of you will already know this but..) dad has just sadly died, he was the main bread winner so now mum and I are faced with (sadly) lots of debts and a big house we can no longer afford... If we sold the house we wouldnt get anything for it (not that anyone is buying houses right now) and we think that going bankrupt is one of the most plausible ways to rectify the issue of all the debts (Advised by CAB)... We have started applying for housing through the council and have been looking at what help we can get from the state etc.. but what would you do? Let the debt companies take the house as part payment... sell to one of those budget companies who buys your house but for a fraction of what it is worth... ? Its all such a mess and I wanna try to be as strong as I can for mum but with regards to this... I havent a clue what to do for the best as theres really no great way out of this situation is there...?
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For more on marking an answer as the "Best Answer", please visit our FAQ.Ps, we had to make ourselves bankrupt three years age (2 weeks before our twins were born). I have never felt so desperate in my life so I know (some) of what you are going through. Get professional help from someone that you can share all of the info with. (PS - it has been really hard going, but you will be really surprised by how little you can live on, if you change some of your ideals, and you can get yourselves out of this dark place.) Good luck again, xxx
Hi clipclop. The CAB give excellent advice - it is a really professional set up these days. if you engage a solicitor it will cost you money and you probably will get no better advice than from the CAB. I would suggest you try all the free advice you can get.
Age concern - now called Age Uk - http://www.ageuk.org.uk/
Also try this - http://www.direct.gov...rt/Bereaved/index.htm
Don't worry about coming back to the site for any other questions you may have. Good luck.
Age concern - now called Age Uk - http://www.ageuk.org.uk/
Also try this - http://www.direct.gov...rt/Bereaved/index.htm
Don't worry about coming back to the site for any other questions you may have. Good luck.
http://www.nationalde....co.uk/england_wales/
This link may be of some use to you . . . . . .
This lin also may help or at least give you an overview of debt issues/options
http://www.nationalde...aling_with_your_debts
This link may be of some use to you . . . . . .
This lin also may help or at least give you an overview of debt issues/options
http://www.nationalde...aling_with_your_debts
Hey ttfn, (mum told me you were lovely btw!) yeah I did that today for jobseekers/income and that came to nothing ( I have had a good rant on another thread of mine about it all) and mum had her app with CAB just the other day who pretty much said it'd be easier to go bankrupt but to think about it first and consider all options....
Thanks sherr, hett and everyone else!
Thanks sherr, hett and everyone else!
Have you spoken to the mortgage lender about maybe rescheduling the loan i.e. paying less each month or extending the term?
Were your Dad's loans secured on the house?
Houses do sell but you have to be realistic about the price. Maybe get an estate agent or two around to see how much you would get?
Sorry, I don't know enough about your personal situations to advise on employment etc.
Really sorry to hear about your Dad. There's very little anyone can say that will help at the moment unfortunately. I know what it's like.
Were your Dad's loans secured on the house?
Houses do sell but you have to be realistic about the price. Maybe get an estate agent or two around to see how much you would get?
Sorry, I don't know enough about your personal situations to advise on employment etc.
Really sorry to hear about your Dad. There's very little anyone can say that will help at the moment unfortunately. I know what it's like.
You are not legally obliged to pay a deceased persons debt's that were taken out in HIS NAME ONLY! (credit cards, personal loans etc) You say you can no longer afford the house, is it owned outright by your parents, did your dad not have any life insurance or some other form of protection on the house?
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