How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Jo C. Your Own Question
Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 70696
Experience:  Over 5 years in practice
12826847
Type Your Law Question Here...
Jo C. is online now

my partner has 44000.00 debt on his credit cards. he

Resolved Question:

hi
my partner has 44000.00 debt on his credit cards. he has 3 properties 1 residential and 2 buy to let. his income was commision based and in the past months his commision has been cut and every month he is in defciet of 600.00 he wants to do debtmangament as cant afford the crdit crd payments wil his houses be affected as it is unsecured loan
Submitted: 2 years ago.
Category: Law
Expert:  Jo C. replied 2 years ago.
Hi.
Thank you for your question. My name is ***** ***** I will try to help with this.
How much can he pay a month?
Customer: replied 2 years ago.

200.00 at the moment it is at 750.00 but he has used his savings and now next month can only pay 200.00

Expert:  Jo C. replied 2 years ago.
There is a chance his properties could be affected.
This really comes down to whether they accept his proposal and do not sue.
It is quite unlikely that they are going to be happy with payments of £200 a month although it is better than nothing. In my experience creditors are looking for about £200 in every £10k.
They may not sue. They do not always. They will not know that he has properties with equity so may take the view that £200 a month is better than a CCJ attracting nothing.
If they do sue though and they get a CCJ then they could seek orders relating to the rental property.
That is a long way off and not all that likely but it is possible.
Sorry if that is bad news.
Can I clarify anything for you?
Jo
Jo C. and 4 other Law Specialists are ready to help you