| Author |
 Topic  |
|
|
Nicola.ta
Starting Member
2 Posts |
 Posted - 07 February 2011 : 10:47:49
|
| Hi. This is about Bankruptcy and 'MY' home, but the debt is my new Husband's (& his ex-wife's). My Husband & I married in 2006; I've had my own home/mortgage for 17 yrs now. He is in about 30k of debt which he got into with his previous wife between around '99/'02. They sorted out debt arrangement plans with the CAB in'02 & he has been paying his debts off without fail every month since. He divorced his wife in '04, taking the arranged 30k worth of debt with him -she was left with just a few small debts. In 2006 we married & moved home in 2007. I am still paying my own mortgage & every bill that I've paid since I was 19 years old to do with owning your own home. He pays his debts, his child maintenance & money towards the family shopping bill (which always goes on my credit card every week - but which I have paid without fail IN FULL every month) This is where things could get tricky. He is thinking of going bancrupt as his creditors keep asking for more money per month (I think every 6 months they call to ask him to increase his monthly payments) but he's worried that he'll soon be working his P/T job just to pay them off - this is where the BR comes, bUT we are worried that the Insolvency people will use my house to collect monies owed. So many people have said that they won't be able to touch my house as it's nothing to do with him, but then the CAB & an Insolvency Advice Line have said that the Insolvency people will look at how long he has lived with me & will try to work out how much beneficial interest he has in the house, if I've had any works done in the house etc to improve it -all of which would have been paid with with profit from the sale of my old house. I have 2 children and he has 3 with his ex-wife who stay with us every school holiday. So, If he does go through with the Bancruptcy, can they use MY house for monies owed by him and his ex wife! Nicola |
|
|
Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 07 February 2011 : 11:02:42
|
Hi Nicola,
If he's made no financial contribution to the house or to the mortgage etc, then you'll be fine, but I suggest that you take advice from one of the experts on here to chat it through in detail.
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/ |
 |
|
|
glafy
forum expert
436 Posts |
Posted - 07 February 2011 : 13:37:28
|
Hi Nicola.ta.
As Viki says , chatting to one of the Experts on here would be advisable, see the link on the left of this page.
Good Luck & Welcome to the forum..
  |
|
|
|
Nicola.ta
Starting Member
2 Posts |
Posted - 07 February 2011 : 15:04:27
|
quote:
Originally posted by glafy
Hi Nicola.ta.
As Viki says , chatting to one of the Experts on here would be advisable, see the link on the left of this page.
Good Luck & Welcome to the forum..
Hi to Viki.W. and Glafy. Many thanks for your replies. I have tried to click on the links on the left for the 'experts' advice, but it keeps saying 'Error TTP 404' (or something like that)...
I'm so desperate.
Thanks
|
|
|
|
admin
Forum Admin
239 Posts |
|
|
Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 07 February 2011 : 16:01:53
|
Nicola
whilst admin are resolving links
you can email Vicki Warbrooke (vincent bond) or Paul Johns (revivaUk) direct
both have email address and websites listed in postings
Richard |
Edited by - Richard P on 07 February 2011 16:05:34 |
|
|
| |
Topic |
|
Hi. This is about Bankruptcy and 'MY' home
