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Georgina.de
Starting Member
1 Posts |
 Posted - 03 January 2011 : 20:35:08
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| What will happen to my house,if my husband goes bankrupt,i own the house outright,no morgage with only my name on it,he works i dont and with the tax credits i get,i pay all the bills,all he gives me is £70 a week towards the food bill as thats all he can afford with having to pay into an iva,which is a struggle ? |
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RHB
Senior Member
1159 Posts |
Posted - 03 January 2011 : 20:49:21
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| How long have you been married/living together? |
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debtinfo
forum expert
2826 Posts |
Posted - 03 January 2011 : 21:32:53
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| why is the property only in your name |
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kirdan76
Starting Member
United Kingdom
4 Posts |
Posted - 04 January 2011 : 18:23:54
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Hi,the reason house is in my name only ,because i bought it outright in sep 2007,met my husband in jan 2009 & married in may 2009,yeah quick i know !
G.D OXBY |
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debtinfo
forum expert
2826 Posts |
Posted - 04 January 2011 : 18:46:48
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| then it shouldnt be a problem, since you have owned it outright since before you met |
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rahnjoseph
Starting Member
United Kingdom
4 Posts |
Posted - 05 January 2011 : 12:54:54
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If the house is on your name then their will be no auction if you husband goes bankrupt.Dont worry
www.BankruptcyIntro.com |
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Bigal4787
forum expert
United Kingdom
641 Posts |
Posted - 05 January 2011 : 13:16:04
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Dear rahnjoseph,
as it states on your web site, American bankruptcy legislation is different in many ways to UK legislation, e.g a section 341 meeting, in the UK, this is carried out by the DJ at court, a creditors meeting would only be called once the OR has sufficient information to hand to warrant it,as it would add extra cost to the proceedings.
But in answer to Georgina, as debt info stated, your husband being declared bankrupt will have no effect on your property. Even, under marital procedures, the only way a creditor could imply a beneficial interest would be if they could show that any contributions made by your husband, enabled you to pay the mortgage ( from case law Gissing v Gissing)
http://pntodd.users.netlink.co.uk/cases/cases_g/gissing.htm
So a creditor shouldn't be able to make a claim based on that ruling
Big Al
Insolvency examiner with the Insolvency service from April 2008 - July 2010.
If you need help completing SOA's(statement of affairs) or PIQ's(preliminary information questionnaire) if you've been declared bankrupt, or anything else and you're within 30 miles or so of Warrington, then please contact me via my contact details in the expert page for futher details"
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kirdan76
Starting Member
United Kingdom
4 Posts |
Posted - 06 January 2011 : 18:21:25
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| Hi to all, |
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kirdan76
Starting Member
United Kingdom
4 Posts |
Posted - 06 January 2011 : 18:35:02
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Hi to all,
Thanks for the advice,what i would also like to know is with the iva as well as my husbands bank statements,to look at his incomings & outgoings,they looked at mine too,will this also be the case with a bankrupcy,i get working tax & child tax credit in both our names ,all though it go's into my account as they are my kids from a previous marriage,i also get family allowance,like everyone & also disabilty allowance for my autistic son,im not declaring bankrupcy just my husband". |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 06 January 2011 : 18:50:25
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It depends how your husband's IVA was set up.
If it took into account joint income and joint expenditure, and all of the disposable income was paid across, then in bankruptcy it's slightly different, you would need to be seen to be paying your fair share of the bills, which it sounds like you are anyway.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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kirdan76
Starting Member
United Kingdom
4 Posts |
Posted - 10 January 2011 : 10:40:39
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| Hi,will i need to provide bank statements,even though its my my husband what is goin bankrupt & not me,thanks. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
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What will happen to my house ?
