| T O P I C R E V I E W |
| MW73 |
Posted - 08 September 2011 : 01:00:37
My partner is due in court tomorrow to for bankruptcy trial. I own the house we live in with a mortgage costing £434 p/m. Is she allowed to pay towards the household costs as allowable income when considering her bankruptcy? |
| 10 L A T E S T R E P L I E S (Newest First) |
| Skippy |
Posted - 09 September 2011 : 10:19:55
I was in a similar situation. The property was my OH's and although we'd been together a few years I'd only actually lived with him for a year. The flat was entirely in his name and we didn't have a problem.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
| debtinfo |
Posted - 09 September 2011 : 07:53:59
Then I don't think you have anything to worry about on that count |
| MW73 |
Posted - 09 September 2011 : 07:25:07
Thanks for your responses everyone. My partner and I have lived together for 3 years, primarily
In rented accomm, but I bought this place in July of this year. We rented it from the vendor for a year before that. The deposit was all from my own funds as were the purchase costs. The mortgage is interest only. |
| debtinfo |
Posted - 08 September 2011 : 20:56:17
not really, if you have paid into the purchase of an asset then you have an interest in it, If the situation was reversed and the bankrupt owned the property solely and his partner had contributed to the property then he/she would also have a right to claim part of the interest reducing the bankrupts share that could be taken as an asset.
In practice as the trustee would need to take it to court to prove the interest then there would need to be a substantial interest to make it worth while. So if you have lived together for only a small amount of time a year or two forinstance then it is probably safe, if it has been many years or a big contribution to the deposit then there might be a problem, hence the questons i was asking |
| Niobe |
Posted - 08 September 2011 : 16:53:24
Seems a bit unfair but then I don't make the rules!!!
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| debtinfo |
Posted - 08 September 2011 : 16:18:58
The or could have an interest in it if the bankrupt has made a material contribution to it, that could be helping to pay the mortgage, paying the deposit, paying or working on improvements to the property etc, |
| Niobe |
Posted - 08 September 2011 : 16:13:02
Why should it matter how long they have been together?
If the OP owns the house then surely the OR won't have any interest in it?
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
| debtinfo |
Posted - 08 September 2011 : 09:02:08
A question though, how long have you been together, has he been contributing before and is there any equity in the property |
| Skippy |
Posted - 08 September 2011 : 08:35:20
I was in the same situation and I was able to contribute towards the household expenses. As Jan says your partner needs somewhere to live, and in my case it was a lot cheaper than if I'd been living on my own.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
| Niobe |
Posted - 08 September 2011 : 06:47:09
Hi and welcome.
As far as I am aware, she will be able to claim for this as she has to have somewhere to live and has to have food. The OR will probably just want to see that you are both paying your fair share towards the expenses.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
Jan
xxx |
