|
|
 |
 |
FORUM |
|
> Browse and post on our forum |
|
|
|
 |
|
 |
|
Note: You must be registered in order to post a reply.
To register, click here. Registration is FREE!
|
| T O P I C R E V I E W |
| flaviaj |
Posted - 20 May 2009 : 16:16:33
I am considering bankruptcy and am presently living with my wife her 2 daughters and our baby son. My wife bought this house with a deposit used from her divorce settlement. I give my wife a set amount each month to pay for our sons nursery fees, a loan which my wife took out for me in her name and the grocery bill. My wife pays her own mortgage and household bills. 1. If I declare myself bankrupt, will the Official Receiver may a claim on my wifes house? 2. Also will the OR reduce the amount I give to my wife monthly in order to pay the nursery fees, the loan and the groceries...which amount to £1300.00? (my wife is unable to cover these commitments for me) 3. Also The car I drive is now owned by my wife since having our baby son last year. It was transferred from me to her at the end of last year. Will this be affected by the Bankruptcy. It is worth approx. £8k ? |
| 1 L A T E S T R E P L I E S (Newest First) |
| Suzanne |
Posted - 20 May 2009 : 16:27:23
Hi
If the house and mortgage are in your wife's name only and she can show that she pays the mortgage herself, then you should have a case for the OR not to believe you have a beneficial interest. It would depend on how much you pay into the household, how long you have lived there together, and whether you were married/together when the house was bought.
What the OR would want to look at is the overall contribution you make to the household in terms of your income and the household expenditure. If you tell them you pay the nursery fees, her loan and the groceries, then they will tell you that you should stop paying her loan. But although you are paying specific items, you are making an overall contribution to the household in terms of covering household expenditure.
The car is another issue. If they find out that you transferred this to your wife last year they will see that as putting an assets out of the reach of creditors. They will probably check the DVLA records and if they did they would find this out.
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
|
|
|
| bankruptcyhelp.org.uk Forum |
© bankruptcyhelp |
 |
|
|
|
|
 |
|
|
|
|
|
