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T O P I C R E V I E W
wfh100
Posted - 16 November 2008 : 20:29:35 Hello.I wonder if you can answer this question about bankruptcy?firstly,the facts are- I have filed for £25000.I have recieved the IPA. thats the stage I am at.When living with my ex partner we remortgaged her house in 2005? Im not sure if it was 2004 or 2006, to pay off some old debts of hers and mine.I then added my name to Her mortgage and paid the mortgage until may 2007.My name was removed in November 2007.I Filed for bankruptcy in August 2008.I didnt declare this to the OR as I was told - wrongly??- it wasnt releveant and didnt want her brought into it in anyway. I/we used the remortgage money to pay off all my then debts.None of my current debts are secured on the house. I walked away from the house.I have been advised that the money was a "gift" from my ex to pay off debts etc and I repayed her by paying the mortgage.can her house be touched in my case?thank you in advance
2 L A T E S T R E P L I E S (Newest First)
RHB
Posted - 17 November 2008 : 07:51:21 Tging is, you could have repaid your debt toyour ex without having your name put on the mortgage so a court may well see that by putting your name on the deeds you had some interest in the property. I think the land registry will show you up as owning the house in joint names less than 2 years before bankruptcy.
John
Posted - 16 November 2008 : 23:38:41 Hi
these matters are not straight forward and more details of dates and amounts may be required to give a definitive answer.
However, on the face of it, if the sum you contributed to the property is equal to the sum of your debts that were paid off via the remortgage then effectively the interest in the property that you would have gained by paying the mortgage may already have been realised by the remortgage sum used in your favour and to the benefit of your creditors.
Additionally there would need to be reasonable equity in the property for the OR to consider investigating the matter.
That said, irrespective of the advice you received prior to your bankruptcy you have technically not completed your SoA truthfully which, if brought to the attention of the official receiver, could well backfire on you as you signed an affidavit at Court and also took an oath to confirm that the SoA was accurate.
So the answer is yes the property could be looked at if this comes to light but that does not mean it will be affected in the end.
