www.iva.co.uk

hello,

i have had advice from several different people (not on this forum)about the best way for me to sort my debt problems out. i owe £30,000.00 on unsecured debts (credit cards and loans).

i don't know whether i am going to try for a br, iva or dmp yet.

my biggest worry is that my partner's house could be at risk, as i have been living with her for 7 years (co-habiting) and she has lots of equalty in it. i am not on her mortgage but help to pay the bills.

she is ill and has'nt worked since april 2000 and is on incapacity benefit and she is signed off work indefinately.

i have thought about moving out and renting somewhere else to use as another address, but have been told that i could still have a beneficial interest in my partner's property.
nobody has come up with a monetry value of what my beneficial interest is, if any. if i have got any, and that it's thousands of pounds she would not be able to buy me out, or re-mortgage the house due to not working and being on long term incapacity benefit and is petrified that the or will inform her that she will have to sell her house. it is putting a tremendous amount of strain on our relationship.

we have been told that we are in a very difficult situation. we don't know which way to turn.

if anyone can give me any advice it will be much appreciated.

hi puppy boy and welcome to the forum..i know its a difficult time for you both but you are dojgn the right thing by trying to get help ...i am sure one of the experts will be able to give you some good advice....altho they may all have gone to bed...
keep looking and keep posting..you are in the right place amongst friends

Do you class yourselves as partners or flatmates? Do you pay rent to this lady or are you accustomed to pooling your funds? And presumably you are supporting her due to her lack of income. do you have any children?

All of these issues will be taken into account when calculating any beneficial interest. My gut feeling is that you do have an interest in the property, but ultimately this would have to be tested in Court if a claim was brought about by a subsequent Trustee in bankruptcy.

How much equity is there in the property and how much are the monthly mortgage payments?

melanie...do you sleep at all??? do you work night and sleep days??....i am ssooooo tired and nodding off and you can still manage to give coherent advice to people who need help...wonderful lady....
good night

Don't sleep too long these days - there is just too much to do!!!

hello tiredoflife (which i hope your not) hee hee

nice to meet you.

thank you very much for your lovely message, it's really comforting. x

hello,

we class ourselves as partners and we live in a one bedroom house. so if we were to say we are just mates we can't. this is why i am thinking of moving out of the house.

i am accustomed to pooling my funds. i have to support her as she loses income support as we are classed as a couple. so we have to pay for everything, ie council tax, prescriptions, things like that.

no we don't have any children. we are not planning to have any.

there is around £60,000 equalty in the house. if not more. the mortgage payments are £280.00 a month.

I do think that you have a beneficial interest in the property, and if I were you I would seek legal advice on this matter before proceeding with any debt solution.

thanks for your help.

do i have to seek legal advice and pay the extortionate legal fees. or my partner seek legal advice to protect her house, by using legal aid? (if she is entitled to it).

this is putting a real strain on our relationship and it feels like i want to run away and am at my wits end.

You will not get legal aid for this type of issue, but most good firms of lawyers will give you a 1/2 hour consulation free of charge or you could try the Citizens' Advice Bureau.

do you know why you would'nt get legal aid for this type of issue?

I think legal aid is only for criminal offences, not civil ones.

ah i see! thanks kallis!


i am wondering whether it would help if i get a solictor's letter drawn up to say that i DON'T want any beneficial interest in my girlfriend's house. but i don't know if that will help?

I doubt that would help as you have obviously been paying towards the bills whilst living there, so you do have a beneficial interest in it.

I imagine Melanie or one of the other technical experts will be able to confirm (or otherwise).

It wouldn't hurt to check with CAB and see what they say.

It won't help you - as your desire to not have an interest in the property will not override the creditors desire to claim one if they feel that there is money worth chasing.