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russ
Junior Member
United Kingdom
176 Posts |
 Posted - 25 July 2008 : 13:21:25
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IN A NUT SHELL, I WILL MAKE IT BRIEF AS I CAN, IVE READ LOTS ON THIS SITE BUT I COULD DO WITH KNOWING A FEW BITS, IF ANY ONE CAN HELP,I OWE HALIFAX ON MORTGAGE £240.000. I HAVE A LOAN OF £65.000 FIRST PLUS ( SECURED)HOUSE WAS VALUED AT £350.000 LAST YEAR, UP FOR SALE NOW AT £315.000 WITH NO INTREST AT ALL. I AM FILING FOR BANKRUPTCY PERSONALLY NOT MY WIFE, STILL FILLING IN FORMS, I HAVE A LOT MORE THAN THE ABOVE, BUT ONLY MY WIFES NAME IS ON THE MORTGAGE AND SECURED LOAN, THERE WILL BE A SHORTFALL WITHOUT DOUBT WITH THE CURRENT HOUSING CLIMATE, WHAT I WANT TO KNOW IS WHEN I GO BR WILL THEY DEFINATELY COME AFTER MY WIFE FOR ANY SHORTFALL AS SHE ONLY WORKS 6 HOURS A WEEK AND GETS PIN MONEY LITERALLY. WE LEFT OUR HOUSE AND ARE IN RENTED ACCOMADATION AS OUR CREDIT IS STILL OK (JUST) NOT GAVE KEYS BACK YET. ALSO WILL THEY TELL OUR LANDLORD WHEN I GO BR AS THIS COULD HAVE DIRE CONSEQUENCES AND THEY WILL THROW US OUT. NOT IN ARREARS AND THEY HAVE A BOND, CAN ANYONE ANSWER ANY OF THE ABOVE,
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John
New Member
United Kingdom
73 Posts |
Posted - 25 July 2008 : 13:39:52
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Hi russ
let's start with the house.
You state you owe £240K + £65K but later state that only your wife is named on these loans.
Could you explain a little?
Assisting where I can. |
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Suzanne
Average Member
United Kingdom
869 Posts |
Posted - 25 July 2008 : 14:08:31
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Hi
Your wife will be liable for any shortfall on joint liabilities if you go bankrupt.
The OR has to contact the landlord to ensure there are no arrears and to make sure you have not paid excessive rent in advance
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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russ
Junior Member
United Kingdom
176 Posts |
Posted - 25 July 2008 : 14:57:14
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[quote]Originally posted by Assist
Hi russ
let's start with the house.
You state you owe £240K + £65K but later state that only your wife is named on these loans.
Could you explain a little?
NO I MEANT I HAVE MORE DEBT THAN THAT SHOWN BUT MY WIFES NAME IS ONLY ON THOSE TWO WITH MINE. NOTHING ELSE. CHEERS |
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russ
Junior Member
United Kingdom
176 Posts |
Posted - 25 July 2008 : 15:01:48
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HI SUZANNE , THANKS FOR REPLY, I KNOW SHE IS LIABLE BUT DO THEY ALWAYS COME AFTER THE PERSON,EVEN THOUGH SHE WILL HAVE NOTHING, YOU CANNOT GET WHAT YOU DONT HAVE. SO WHAT COULD THEY DO.?
Your wife will be liable for any shortfall on joint liabilities if you go bankrupt.
The OR has to contact the landlord to ensure there are no arrears and to make sure you have not paid excessive rent in advance
Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
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will my wife be pursued for shortfall on house?
