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chancetrader
Junior Member
170 Posts |
 Posted - 31 August 2008 : 16:00:53
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| im contemplating bankruptcy.all debts were incurred before meeting my current girlfriend and are in my name only.ive been living with her in her mortgaged property now for approx 8 months , and although i pay half towards bills etc all are in her name. will her property be safe and will or accept these bills as they arent in my name ? |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 31 August 2008 : 16:12:43
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Hi Chancetrader,
From what i understand then yes i think it should be. As you only pay towards the bills and your not on the mortgage.
I am not 100% sure if im right but i dare say if im not one of the other experts will come along and help me out.
Thanks again
Jo
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 31 August 2008 : 16:14:16
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The other scenario could be that you may have more DI for an IPA but again dont quote me on that John or someone may be able to help more.
Sorry i cant help with this completely. :(
JO
"There is light at the end of the tunnel, if you cant find it get a brighter torch"
You can read my blog here:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
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John
New Member
United Kingdom
73 Posts |
Posted - 31 August 2008 : 19:19:02
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Hi
as you have only lived with your partner for 8 months then her property should be unaffected as it is in her sole name. If you had lived there some years, despite the fact you're neither on the deeds or the mortgage, this could have been a different scenario.
If your income is declared as greater than your partner's contribution this could also be an issue in respect of the property.
On the other hand if you declare your partner's contribution figure as her full net income this will, of course, increase the possibility of an Income Payment Order.
When listing the household expenditure it is virtually irrelevant whose name the bills are in in view of the short time you have lived there.
If it did have any impact at all it would be to your partner's benefit, again, in respect of the property.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Almost there
Junior Member
United Kingdom
288 Posts |
Posted - 31 August 2008 : 20:54:10
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Hi, I posted last week about my worries and I am a little worried about your answers on this one. I have lived in my house for 12 years, it is not in my name, my partner who died, has left it in his Will for his 5 grandchildren so I have no beneficial interest in the property at all. In his Will he said 'partner may live in the property for as long as she wishes or until she marries providing she pays the interest on the mortgage of £15,000', this is like a sort of rent and works out at £100.36 per month, when I leave for whatever reason, the house is to be sold and equal amounts of the proceeds are to be shared among the 5 grandchildren. Also, will his children (the Trustees) need to know about my BR, I really don't see why they should. Oh dear this has given me something else to worry about.
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John
New Member
United Kingdom
73 Posts |
Posted - 31 August 2008 : 23:08:46
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Hi
I would need to take advice on your situation.
I will post a response tomorrow if that's ok.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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John
New Member
United Kingdom
73 Posts |
Posted - 01 September 2008 : 12:02:15
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Hi
having taken advice on your situation I am able to advise you that the property is safe and that you, in effect, are a tenant.
You may well, however, need a letter from the solicitor, or some other form of evidence to support your claim.
This means that as a tenant the OR will want to know who your landlord is and may well choose to contact them.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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im contemplating bankruptcy
