www.iva.co.uk

Im having a nightmare, going BR on the 17/10. Husband moved out we are going to get a divorce. our house has been on the market for a good 18months. Just had agent on asking for us to make an incentive, ie pay legal fees or deposits (cant afford to do either). Also we didnt have to have a HIP and from 1 October we do which will be £350 if we want to keep it on the market, could be deferred and paid at the end of 10 months or when house is sold but would need to pay a deposit with a credit card (which I dont have).

Husband is paying mortgage until its sold. I feel like throwing the towel in a letting it be repossessed and tell husband not to pay mortgage and just give me what he thinks is reasonable for the 2 kids.

Any thoughts please.... it just seems by keep paying mortgage interest only its throwing good money away. We are in negative equity house worth £145,000 and mortgage redemption £152,000 + costs of selling if we did , so on the market for £155,000 we haven't got a hope of selling it.

What would happen if mortgage wasnt paid and I go BR, really need to know, thanks in advance.

Clearly if you do not continue to pay the mortgage, the house may eventually be repossessed by the mortgage company - and as you are currently in negative equity and intending to declare yourself bankrupt, there seems little point in your husband continuing to pay the mortgage.

Once you have missed three mortgage payments, the mortgage company has the right to commence possession proceedings against you - so if you are intending to follow this route, you should keep the lender fully informed and take steps to find a suitable rental property for you and the children in the meantime.

Hiya eva

Just wanted to say this sounds like its turning into a very stressful time and you must feel dreadful being stuck in limbo like this. You must be pulling your hair out, you poor thing.

I wish you all the best with whatever you decide to do and hope you can get something sorted out really soon.

good luck with everything.

Thanks Melanie, the most secure rental property would be council housing but they cant offer me anything until I have a firm date that I need to be out, but on the other hand I dont want to have a made panic in moving. my head is spinning at the moment dont know what to do for the best.

Either way I am going BR on the 17/10, so I cant see any point in husband paying out nearly £800 a month on top of his rent "to keep a roof over our head" I did speak to our mortgage company hyperthetically and they said if a payment wasnt rec'd in Oct it would be January before court proceedings would be started.