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| Widge |
Posted - 21 February 2011 : 01:54:03
Hello, I'm new on here and have spent the last few hours browsing and reading posts. I'm sorry if I'm repeating stuff already answered, but I see a cross-over of situations with many others on this forum.
I am filing my BR petition in a few weeks (I've had to wait because I have to have resided in the County Court area for the best part of six months). I'm sure all will come to light soon but I'd like to be prepared nevertheless.
I moved out and divorced my ex. We rented out two properties together. We are joint mortgagees on both houses. He is sole name on the deeds of one and we are joint deed holders on the other. The dicorce Court Order was made taking my well-payed salary into consideration and the last situation is that he keeps both houses and still owes me £10k. o he keeps both houses with my name still as joint mortgagee.
During our marriage I paid most of the mortgages and houehold expenses, covering for him while he was out of work. As a result I got massively into debt and now, since losing my job and struggling on benefis etc I eventualy have found a very poorly paid part time job working on a supermaket checkout. I currently rent a property with my new partner, who work full time.
I have no assets apart from my car and the £10k that my ex owes me, and of course he has about £200k locked up in equity in the houses that my name on the mortgages allows him to keep.
Can the OR go for him and the houses to settle my debts (about £40k)?
Will I have to sell my car (I could argue a case to keep it I think but couldn’t get a cheaper car to run!)
Would my job be at risk (as I handle money etc and especialy help with 'cashing up' at the end of the day)?
I worry about the false stigma attached to being BR. I'm no thief or anything and just want to carry on with a fresh start and without all this heavy burden that has weighed me down over many years.
Any comments or advice would be welcome.
Thank you,
Widge |
| 8 L A T E S T R E P L I E S (Newest First) |
| Widge |
Posted - 22 February 2011 : 20:50:13
He has already paid me £20k which I used to clear some of my debts. The remaining £10k (plus interest) is due on or before Sept 2012.
Its a pain my name being on both mortgages - THAT is what's so unfair. Even if I wasn't going BR and had a good income, I still would be tied into two mortgages for two houses that I would have no further financial interest in, AND no mortgage company would take me on with those existing joint borrowings!
The car - well does te factthat my mother loaned me money to pay for it make any difference, and also I currently work awkward shifts often late at night to allow any commuting by public transport (apart from taxi). Also, jobs that I am applying for (very well paid ones) are often in locations away from easy public transport access and require the post holder to use their own car for business - and getting to interviews, well I have one lined up which would be very difficult to get to without the use of a car. Also my elderly mother lives alone and occasionally I have had to drive over there to look after her - she lives in a remote village 3 and a half hours drive away and the only public transport I could get would be a train taxi and bus ride that runs twice a day plus a mile walk to get to her.
My rant is over - I will fight my bestest to keep my little car - its the ultimate 'downsize' car and I challenge anyone to find anything mre economical to run at its current value!
Thinking of which I suppose I should investigate all public transport options for my various journeys in order to support my business case for keeping the car!
Widge |
| RHB |
Posted - 22 February 2011 : 16:38:47
They won't overturn the setttlement though, so our name would still be on the mortgages. How much did our ex have to pay you in total?
Your car is borderline but if ou are in a job paying an IPA they may be more willing to allow it. |
| Widge |
Posted - 21 February 2011 : 20:16:09
I do hope so, as its so unfair and as you say, one sided |
| debtinfo |
Posted - 21 February 2011 : 20:12:41
Well if you were insolvet at the time then the trustee may chalange the consent order as it seems a little one sided |
| Widge |
Posted - 21 February 2011 : 19:58:25
I agreed privately (via solicitor) and the judge just stamped it. It was getting me down and I just agreed to get things moving so as not to incur any additional solicitors fees (I still owe my solicitor £1300). |
| debtinfo |
Posted - 21 February 2011 : 19:28:49
did you argue it out in court and the judge make a decision, or did you agree privatley and the judge just stamp it |
| Widge |
Posted - 21 February 2011 : 16:06:06
Thanks, that's as I thought, which is fine (although he did fleece me good and proper at the time of settlement!)
The car is worth maybe £2,500 - £3,000, although I bought it with money loaned from my mother (which I still owe her) after losing my company car with redundancy. I really need a car though for futue jobs, for instance only this morning I have been put forward to consider for well paid contract work on an infrastructure development (yes, I'm a lady environmental engineer by trade) so that would not be accessible using public transport! I do hope they don't take my car away from me as its so economical to run and the road tax is only £20/year!!! |
| RHB |
Posted - 21 February 2011 : 13:51:02
TBH, if a consnet order has been ordered by the courts then they won't "come after him" unless it is seen as a way of you disposing of assets undervalue prior to going BR. They would however try to press him for the 10,000 he owes you. You would need to ask HR about our position at work but in all probability will be ok as BR isn't a criminal act.
How much is the car worth? |
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