Write where do i start, Me and my ex has split up, we have 2 kids(3 and 1 yrs ) I work full time (50 hrs per week) and take home £1400-£1700 per month, my ex works part time (12-16 hrs per week) earning £400 per month + £benefits(?). she has no child care costs as i have them after work 3nights and every other weekend. Right heres where it gets tricky we have a mortgage £180'000. about £1'200 per month: £1500 inc bills(not inc my own). I pay £1'200 and she pays £300+ food.
I cant afford to continue to pay this as this is london and its expensive. she wont pay any more and says lets go bankcrupt.
Surely this is not a option? im 28 i wont get anything ever. i want to pay for my kids, but i couldnt if i took on the morgage as i prob wouldnt have enough even for that oh and the property is in neg equity.
please please someone help. as i cant even afford the solicitors.
Answer by Rose
Sell the house.
Answer by cougar
She is right.
You should file bankruptcy and start over.
Answer by mem11363
Who is living in the house?
Go to the bank and sit down and explain that if they won't renegotiate the mortgage you will be forced into bankruptcy - and will walk away from the property - they will most likely rework the terms of your mortgage
In the UK I think if you go bankrupt - it only stays on your credit for 6 years - but you have to check - their is a free insolvency hot line - call it
Know better? Leave your own answer in the comments!
Orignal From: I need some advice badly? HELP?
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