newbie

[look_divine]

well been hanging around a few weeks and finally decided to emerge
well where do i start?
been hiding my debt from hubby for quite a while, he didnt know how much i owed
hes gone mental wants me out of the house etc
house is his i am not named on it, debt all in my name, so if i find somewhere to live and go for an iva he wont be involved?
I dont want him to have to sell the house for the sake of me getting into debt
still dont really know how ivas work been reading the posts etc but im still unaware to how much you have t pay back etc
any advice?

[MelanieGiles]

Hi there and a warm welcome to the forum

The best thing to do would be to contact an insolvency practitioner for direct one to one advice about your current financial difficulties. What a shame that your husband is being so unsupportive - and it is very good of you to not want this to affect him. I often find that people do manage to sort things out once a repayment plan is in place, so let's hope that this might happen in your case.

How much do you actually owe to creditors - and has all this money been spent on just you or has your husband also benefitted from any of this money?

[plasticdaft]

If the house has always been solely in hubby's name then an iva for yourself may be possible,without fear of anything happening to the house.

Can you give us an idea of the level of debt and how much you have coming in a month??

Is it possible to save the marriage?? Its never easy when something like debt is hidden and suddenly gets thrust into a partners lap.

[indebtforever]

welcome to the forum i hope you can sort your debts and your marriage out i would advise speaking to melanie she is highly recommended.

[look_divine]

its been in hubbys name approx 9 yrs i take home approx 1400 a month, i get paid weekly though
i owe approx 28000 maybe less or a little more if i get figures off the creditors i pay out approx 900-1000 thats living here, i know i wont afford it if i have to go which trust me looks like i will, marriage hasnt been that good for a while its not just the money issues

[kallis3]

Hi look-divine and welcome to the forum.

Sorry to hear that your husband isn't being supportive of you. Is there any likleyhood he will change his mind?

If, as you say, the debt is all yours and the house is not in your name, I would say that he will not be involved at all if you move out.

Obviously you will have to have enough disposable income to be able to pay into an IVA. The amounts vary according to the level of debt and the amount of money you have left to pay in.

If you are going into rented accommodation, you could also consider bankruptcy which will not disrupt your life for as long as an IVA will.

I suggest you ring one or two IVA firms and ask their advice. Melanie Giles is one who posts on here and people rate her very highly.

[look_divine]

its all mine, tried to do a sort of business venture with a well known internet auction site and it went boobies up

[Kazzy E]

Hi there look_divine and a huge welcome to the forum from me too. You are in the best place for fantastic advice. You are best to contact two or three IP's to get the best advice, but I can certainly recommend Melanie Giles who is an IP and posts on the forum regularly. We have our IVA with Melanie, and her and her team are very professional, non-judgemental and give you factual and honest advice. Good luck and regards Kazzy x

[MelanieGiles]

Do you have any children? And how much disposable income do you feel you would be left with after you have moved into rented accomodation? This is likely to be much lower in view of the increased costs associated with living alone.

[look_divine]

i dont honestly want the world to know im bankrupt would rather go for a iva and at least pay something back to the creditors i know it wont be all i owe but at least some

[look_divine]

I have 2 kids, if i moved into local council housing and looked at paying the normal bills id say 20-250 a month left if not more i honestly dont know till this happens i dont pay any household bills at the moment it all goes on debts

[plasticdaft]

Sorry to hear about your marriage. Given the relatively low level of your debt and the icome you have you may be able to try for either an IVA,a debt management plan or as you have no assets bankruptcy may be an option.
If you are going to have to move out and rent you would have to work out how much you can afford to pay towards your debts. Best advice would be to speak to your local citizens advice bureau or an independant financial advisor,to discuss your options. There is always a solution to every problem.

[look_divine]

i know plasticdaft thankyou, just trying to get things right in my head at the moment
so many things to think about think my head is going to explode

[MelanieGiles]

Your husband will need to pay you child maintenance, so that also needs to be taken into account when calculating your disposable income. Would he be able to pay this and all of the bills associated with the house, with no contribution from you in the future?

[look_divine]

he has no contributions from me, i cannot afford to give him anything it all mostly goes on the debts maybe a little food shopping now and again thats all
hubby can afford to keep the house and pay me maintenance which i have told him he will have to pay or i'll go to the csa
BUT i dont know how much he will have to pay
this is the thing i dont know nothing