| Author |
 Topic  |
|
|
peted
Starting Member
10 Posts |
 Posted - 07 January 2009 : 11:04:14
|
Due to a long and complicated divorce, I am in arrears on my mortgage. If my building society have issued a notice of intended re-possession, can I still claim bankruptcy?
(p.s. I don't have an re-mail address so am using a friend's) |
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 07 January 2009 : 11:09:44
|
Hi Pete
Welcome. If your home goes to repo then yes it can be included in your bankruptcy and the amounts technically written off.
When were you thinking of going bankrupt?
Jo
x
22 Weeks down
30 to go
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take life by the horns and live a little, otherwise life would be so boring! |
 |
|
|
pix1
Average Member
689 Posts |
Posted - 07 January 2009 : 12:13:03
|
Yes, you can petition your bankruptcy in such circumstances and you sohuld highlight in your petition that your property is in reposession proceedings. You would need to decide if you are hoping to keep the house or if you want to get out of it. If you decide to keep the house you could carry on paying the mortgage or making an arrangement to pay part of it and continue petitioning your bankruptcy. If you decide to give up the house you could stop all payments to the mortgage (and use some of the proceeds to pay the cost of the bankruptcy) and make arrangements to move out. It would probably be a few months before you actually have to leave and so could possibly save for a rental.
Is it only the mortgage or are there other debts involved? |
|
|
|
peted
Starting Member
10 Posts |
Posted - 10 January 2009 : 17:49:30
|
Hi folks, thanks for the replies, I'm Pete, Kate's friend, and I'm going to take over her dialog from now. Kate is at a very low ebb and on Wednesday she took an overdose of sleeping pills, I found her semi consccious and called an ambulance. She's OK now but can't talk about her problems so I'll answer your questions.
Kate was in a violent marriage and in July 2007 her husband hit her once too often and she left and went to her parents with her 11 year old daughter and her dog. Her ex husband runs his own business and employed her with a good salary and company car, she was sacked and her car was taken away as soon as she left him. Kate filed for divorce and started accruing legal fees, she was persuaded to accept a one off fee of around £10k, which ended up more like £20k. As soon as she left him he persuaded her to agree to a mortgage holiday which lasted six months. The court awarded her custody of her 11 year oldand the former matrimonial home which she moved back into in Nov 07, The home is a £750k house with mortgage payments of around £2500 per month, her husband moved into rented accomodation. Throughout the divorce proceedings her husband manipulated his financial status claiming that the business was doing badly and that his income from the business was nil.
Obviously Kate can't afford to keep the house and has it on the market but nothing is moving and the lender has now issued re-possession proceedings and what with the arrears from the mortgage holiday and the current housing market she stands to come out of it with no equity and still owing them money. She has no deposit for renting and so I've fixed up an appointment for her to see the local authority housing advice people next week.
The final straw is that in Oct last year her poor ex husband bought a new £374k house with a new mortgage while still claiming to the court to be living in rented place with no income!!
Basically she has been badly let down by the judicial system and has no means of getting a fair deal.
Sorry this is long winded but I said it was complicated. I keep trying to tell her she won't be put out on the street but she's terrified of losing her daughter now that hes ex has a comfortable lifestyle.
I think bankruptcy is the only way to go but just now I'm trying to persuade her not to try the alternative again. any advice would be welcome....
|
|
|
|
Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 10 January 2009 : 18:18:33
|
Pete
May i ask then when you can speak to her about this that you send her my love and wishes and tell her that no man or situation is worth taking your life for i know i tried it.
She has to think of her daughter and the love that her little girl gives will help to pull her through.
Also it may be worth giving our guys and gals at the helpline a call its free and they can then go through the options with you much better and yes you can call on her behalf.
That number is 0800 078 9367.
Also tell her that we are all here for her, we dont judge and we want to help each other.
Tell her to take care and things will be ok.
LOL
Jo
x
Needafriend says:
Just always remember one thing, Your not alone, your not the first and you wont be the last.
23 Weeks down
29 to go
For more info on how i have come through bankruptcy and for links to help with filling out the forms, I&E, Car Valuations, etc, etc, you can read my blog here called:~ Needafriend's Info on Bankruptcy :-)
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
|
|
|
|
RHB
Senior Member
1159 Posts |
Posted - 10 January 2009 : 18:19:13
|
| For a sum that large she can go back to court & get the divorce financial settlement overturned |
|
|
|
JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 26 January 2009 : 14:03:33
|
Hi Pete,
The helpline is temporarily down for maintenance. My colleagues are still standing by (please see my post entitled "HELPLINE").
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
|
|
|
peted
Starting Member
10 Posts |
Posted - 11 March 2009 : 08:26:05
|
I'm writing this on behalf my friend Kate, Kate is due in court on Tuesday next week and I'm going to hold her hand, we are a bit mixed up over the order of proceedings though, I thought she'd see the judge first then be sent "over the road" so see the OR however she thinks she has to see the OR first then the judge approves her BR often without needeing to see her. Can someone advise which way things happen on the day?
|
|
|
| |
Topic |
|
Due to a long and complicated divorce
