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| T O P I C R E V I E W |
| karon.h |
Posted - 05 October 2011 : 19:15:30
Hi,
i was declared bankrupt almost three years ago, a few months after seperating from my husband of 30 years. I was appointed a trustee who has recently communicated that he has applied to take my interest from the house but is giving me until March to try and and sell the house privately which i have been doing for the last six weeks or so. I am feeling depressed as i am worried about finding somewhere to live, is it best to look now or nearer the time, my worry being that i may not find anywhere soon enough. Another major worry for me is the credit checks that are carried out by landlords, i could probably get references from my employer and the mortgage company with whom i never missed a payment. Do you have any suggestions as to what i should do? I do have two grown uo children who live with me, would they be affected by a credit check, having lived with me in this house for 20 years? I obviously knew that this day would come but it is none the less traumatic leaving my family home and worried about being homeless. Please could someone shed some light and give me some hope. Thankyou in advance. |
| 14 L A T E S T R E P L I E S (Newest First) |
| karon.h |
Posted - 10 October 2011 : 18:18:48
Thanks for your advice Daniel.
best wishes,
Karen. |
| Daniel Griffiths |
Posted - 10 October 2011 : 12:48:19
Hi Karon
Have you contacted Shelter at all, http://www.shelter.org.uk/, they are free and very expierienced in these matters, worth a call, also with regard to renting you could place your own advert in the local press House wanted to rent, you could specify the area and have landlords contacting you direct,many landlords dont like agents they take the cream off the profits and if you find somewhere you can explain your past to the landlord at least you are debt free. However I am wondering if you can save your property if you wanted to of course if its affordable, a sale connot be forced if there is no equity, and Shelter may be able to provide free legal advice. |
| Niobe |
Posted - 09 October 2011 : 18:44:44
If she has no financial link with you then there should be no problem.
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 |
| karon.h |
Posted - 09 October 2011 : 18:37:23
Thanks Jan |
| Niobe |
Posted - 09 October 2011 : 18:06:04
It may be better for your daughter to rent as she has a clean record.
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 |
| karon.h |
Posted - 09 October 2011 : 17:44:34
Hi Richard,
thanks for your replies and help. No. i did not contact John i have no recollection why i didn't at the time. My ex (whom i am still legally married to as i cannot afford to get divorced], did not declare bankruptcy as he had money i was not aware of at the time and it was me who racked up debts on credit cards paying for holidays and things i thought would keep him happy! His name was on the deeds when i went br and his name still is. He has shown no interest in buying my equity and i do not know if he has the money to do so now in any case.
I am surprised i have been allowed to stay in the house this long. The trustee is acting now as it will be three years next month since i went br and he has instructed solicitors to act and they have sent me papers to sign, they will get a court order to turn my equity over to the trustee snd i csn stay in the house till no later than March when it will go to auction if not sold via the estate agent before then. Going to auction will benefit no-one as there are two mortgages on the property and even if they get paid up there will be no money left for trustees fees or creditors. If i go ahead and sign these papers even at this late stage could a third party still intervene?
Also, regard renting Richard, do you know whether it would be better for my daughter to try and rent somewhere for us to live in her name or do they credit check everyone who is going to be living in the house and check out previous address also. She has a clean credit history.
Once again thanks!
Best wushes,
Karon |
| Richard P |
Posted - 08 October 2011 : 11:40:34
Hi Karon
back in 2008 you posted on the forum about valuations and equity within your property.
Did you manage to make contact with John at the time (one of the experts).
Good Luck Richard,
|
| Richard P |
Posted - 08 October 2011 : 11:23:51
HI Karon
after the mortgage and all the charges have been taken off.
The trustee owns your share of the equity. yes you can argue they have incorrect valuation of property and % share of equity with ex husband.
The trustees would rather have a sensible offer on the table than enforce a sale.
A third party can be approached to make a senisible offer if you do not have the cash, but they will always own that percentage of the equity, some third parties may charge rent, so as i said earlier it can be done but it has to be looked at in great detail to make certain that it is a win win situation for both of you.
Is your ex husband still on the deeds ? was he on the deeds at time of bankruptcy, Has EX husband also declared BR ?
Good Luck Richard,
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| karon.h |
Posted - 07 October 2011 : 21:39:35
Hi Richard,
i live in north-west England between Liverpool and Manchester. Could you please give me more info on third party buying interest, thanks,
best wishes,
Karon. |
| Skippy |
Posted - 07 October 2011 : 17:38:31
Speak to local agents and private landlords. There is a post on here from Widge who has been able to rent a property without a guarantor so it can be done.
Good luck x
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. |
| Richard P |
Posted - 06 October 2011 : 23:06:44
me again.. go and speak to local private estate agents , my latest one knew i was going to fail a credit check so did not bother doing one !
although had guarantors in place it was too complex to use them.
So I have a nice house in the nice part of town, yes it needs a lick of paint..
all because i went out and was upfront with an independant estate agent, he was also upfront stating I have a lovely house but it has been on my books for a few months as it needs some TLC !
Good Luck Richard,
|
| Richard P |
Posted - 06 October 2011 : 23:04:47
Karon
what area of the country are you ?
Today I have had a conversation with one of the councils based nr guildford they have quite a refreshing attitude and work with rather than against people in similar circumstances ! speak to your local council.
I have also used a third party who is prepared to invest and purchase your equity. vary rare and you have to make certain that it is a win win situation, not just delaying teh inevitable. speak to local hosunig associations they also have plans for equity shared ownership
Good Luck Richard,
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| karon.h |
Posted - 06 October 2011 : 20:13:33
Thanks for your reply. Do you know whether it would be better for my adult daughter to apply for the house or flat to be in her name or if they credit check everyone who is going to live there.
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| debtinfo |
Posted - 05 October 2011 : 20:17:45
best to look as soon as possible, if the house is deffinitly going, one think you can do for agents is provide 6 months rent up front (if possible) or have someone else as guarantor |
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