Contact Steve Thatcher of Help With Debt (UK) Limited a total debt solutions company. For all further reading see http://www.helpwithdebtuk.com For personal contact email sthatcher@helpwithdebtuk.com If you have any debt problem whatsover either personal or corporate make Steve your first call all advice is free. Finally if in the UK and you need a friend to speak to call 01162171406 Visit http://www.helpwithdebtuk.com
It is a sad fact of modern life that relationships end very frequently. It is also an undeniable fact that many of those relationships end with debt. Sometimes that debt from a broken relationship can lead to bankruptcy. We get many calls to the Help With Debt helpline form one part of a couple who has been left carrying the debt of the relationship. This is often because one half of the couple has been unable for past debt problems, to be able to get credit.
When a young couple are looking to set up a first home, it may be that only one half of the couple has a good enough credit rating to get sufficient credit for significant purchases. That is ok when the couple are together and pooling their wages but when the couple split, that party is then left with sole liability. It is possible that the result of carrying that debt burden can lead to bankruptcy.
We have many people call us who have recently split from a relationship and worry about debt they have taken on for the couple, or increasingly for the other party, in their own name. When the couple split, it is often on bad terms and the other party can often disappear and leave the debt ridden party to cope.
In many cases coping with a big debt burden on one wage is too much. There is also the question, or “why should I”. Part of the problem is that, if you take out debt in your own name you are liable. So if you are liable, and you cannot pay what can you do?
There are a number of solutions for you if you are left with debt that you cannot service. You can consider debt management, if the debt is not too great and you can manage a monthly repayment.
If the debt is over £15,000 and you can manage a repayment of over £200 per month, then and IVA may be for you.
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