I am separated from my wife who lives in the marital home with 5 children (in Scotland). She is in receipt of income support and cannot afford to pay any of the mortgage. I now live and work in England and reside with my current partner in a property for which we both pay rent. Unfortunately, my job recently changed to one paying significantly less than my previous apointment and I am struggling to keep up payments on my debts, particularly the mortgage. If I were to declare bankrupty, what would happen to the property and hence my exwife and children's home?
hi and welcome to the forum in BR in England the OR will look to realise any equity of yours in anything of value ie. houses cars etc. if there is any equity in your marital home upon BR your share of it will become the ORs and he will look to realise it. Generally if there are children involved there will be 12 months before action. if there is no equity in it he will normally be willing to sell your Beneficial Interest in it back to you for £1 plus £211 costs
Dave
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I am separated from my wife
Posted - 15 February 2010 : 22:49:08
