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Howdy all,
Hope we are all well.
A friend of my other half is in a mess. She has circa £53k of debt to about 18 credit cards and loans, 8 payday loan companies ... and some outstanding cash loans to loan sharks.
She's asked me to pop over this evening to give her some advice.
As I see it, she has two realistic options:
IVA or BR.
She earns too much for a DRO. A DMP is just a waste of time. She works for a solicitors, but I'm not sure she would be happy going for UE (although it's an option ... so long as she pays off the loan sharks first!).
She's recently split from her husband, and have a jointly owned house. I've got a couple of questions, which were not an issue for me when I went BR, and just wanted some clarity.
1) Husband has moved out of marital home, and if she goes BR, then how is he dragged into it? Is he offered to buy out her interest in the property? Is it just sold, and then they get allocated the shortfall 50-50?
2) They have a child through marriage. I know he's not working at the moment as he was laid of recently. However, is there a legal responsibility for a married man to provide a roof over the childs head until XX years? I've heard various forms of that comment banded about, but wanted to know in black and white what the obligation is.
Thanks in advance
I'll probably refer her back to this site shortly.
Hope we are all well.
A friend of my other half is in a mess. She has circa £53k of debt to about 18 credit cards and loans, 8 payday loan companies ... and some outstanding cash loans to loan sharks.
She's asked me to pop over this evening to give her some advice.
As I see it, she has two realistic options:
IVA or BR.
She earns too much for a DRO. A DMP is just a waste of time. She works for a solicitors, but I'm not sure she would be happy going for UE (although it's an option ... so long as she pays off the loan sharks first!).
She's recently split from her husband, and have a jointly owned house. I've got a couple of questions, which were not an issue for me when I went BR, and just wanted some clarity.
1) Husband has moved out of marital home, and if she goes BR, then how is he dragged into it? Is he offered to buy out her interest in the property? Is it just sold, and then they get allocated the shortfall 50-50?
2) They have a child through marriage. I know he's not working at the moment as he was laid of recently. However, is there a legal responsibility for a married man to provide a roof over the childs head until XX years? I've heard various forms of that comment banded about, but wanted to know in black and white what the obligation is.
Thanks in advance
I'll probably refer her back to this site shortly.
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