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 Both my partner and estranged husband where made bankrupt
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Starting Member

2 Posts

Posted - 05 July 2012 :  13:41:18  Show Profile  Visit M.22's Homepage  Reply with Quote
Both my partner and estranged husband where made br in early 2010, and we are trying to come to some arrangement with the or with regards to buying the BI, which was originally valued at approx £44,000 minus a £10,000 charge made upon the house just before br was made...
After our first offer of £8000 was immediately rejected we managed with the help of a bank loan to offer £20,000 to the or, as we feel that over the last 18 months property prices have fallen and taking into respect the condition of the property which does require some urgent maintenance and general modernisation...

The OR has now come back to us stating that they have revalued the property at an extra £20,000 on top of the original amount and stating that the BI is now at £64,000 and that we need to offer more than the £20,000 which as you can imagine is already alot of money... please help as we don't really know what to do as she doesn't want to lose the family home, my partner has 2 children (16 & 13) and has been a full time uni student for the last 2 years and is attempting to rebuild her life and is hoping to start a new job in the coming months. I thank you up front for any advice you may give....

Senior Member

1159 Posts

Posted - 06 July 2012 :  09:20:16  Show Profile  Reply with Quote
It is up to the OR to get as much money as they can for the creditors. Your offers do sound very low but appreciate that as your partner is BR you can't raise it. Unfortunately it looks as though you may have to let the house go but if you have a good credit rating you should be able to get a suitable rental & when your partner starts working can save up for a deposit again.
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year 2029
Average Member

590 Posts

Posted - 07 July 2012 :  08:22:48  Show Profile  Reply with Quote
How did the OR get their new valuation?

Have you had your property valued yourself?
If you haven't, you may as well.
If you use a local estate agent with a RICS accredited valuer, and the value is considerably different to the OR valuation, you would have a case with strength to go back to them.

Please let us know how you get on.

Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought.

Edited by - year 2029 on 07 July 2012 08:23:50
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