My ex is going bankrupts prior to the FH in a divorce - or at least threatening it.
His reasoning is either I give him a lump sum or give the same to the OR. My difficulty is I don't have capital to give him nor do I have the capacity to borrow.
He has been told by the judge that it is highly probable that his share of the equity in the house will be given to me and his children, that we will each keep our personal loans and that the joint loans will take there course. Though in effect even though he is the primary name I am paying as I have the "ability" to - agreed lower amounts as when using a debt mangement scheme.
My ex has chosen not to work and is not claiming or entitled to benefit as his new partner earns above the limit.
I would like to know what to expect.
The total equity in the house in July was £20k. I pay the mortage on my own and have since last June.
The divorce court take from the £20k some allowance (to be determined) for my paying the mortage and contributing to fall in the mortgage of 10k since my ex left - and increase in the equity. They also take off an amount for the cost of selling the house. Does the same happen with the OR or do they just take 50%.
My ex also says that 50% of the contents must go to the OR and I have to pay to keep them.
My ex says that the family car will also go. I have a car and so does he - surely this would be his car.
I am aware that the court costs he owes me will not "go away" and neither will any back payment for maintenance.
Do I pick up his share of the over draft too?
I apologise if any of you find this offensive as I am aware this is site for support in bankruptcy but I have not been able to find anywhere else to turn.
What a large post, i really think it may be better if you call our helpline as yours needs a bit more one to one in order to give you the correct advice.
The number is free and someone will be able to help you better than the advice that i can give you on here, that number is
0800 078 9367
Best of luck
Jo x Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
what does exs bankruptcy mean for me?
Posted - 13 October 2008 : 12:47:38
