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markm
Junior Member
United Kingdom
115 Posts |
 Posted - 29 March 2009 : 14:29:47
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Thank for you reply John.
I brought the property in 1997.
The property price was 33 k
I have never remortgaged before.
We bought the property on a right to buy, we had to get 100% mortgage.
My wife has only worked part time from having our oldest daughter, and that was on and off. (about 15 years).
I have always paid the mortgage out of my wages and all the other bills.
My wife only had a small income even when she was in work.
She only earned about £50 a week.
Thanks alot
Mark |
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markm
Junior Member
United Kingdom
115 Posts |
Posted - 29 March 2009 : 14:37:14
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Yeah John its a shame you are down in Dorst, my wife would love to sit down and tell someone from start to finish what has happend and which way things have gone.
Its un beliverble what power the trustee has on someone for a small disputed debt. |
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John
New Member
United Kingdom
73 Posts |
Posted - 29 March 2009 : 14:39:55
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Hi
so there having been no cash deposit and no contribution from your wife ever since, under the rules of equity of exoneration your wife doesn't have an interest at all Mark.
John White
England Jackman & Spacey |
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markm
Junior Member
United Kingdom
115 Posts |
Posted - 29 March 2009 : 14:54:21
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Hi John
I brought this up at the meeting with the trustee when i first found out about the bankruptsy.
She told me that becouse the mortgage was in both our names that 50 % of the equity was her's and now was in the hands of the trustee.
My wife has not even got a bank Account john !
Mark |
Edited by - markm on 29 March 2009 14:56:50 |
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John
New Member
United Kingdom
73 Posts |
Posted - 29 March 2009 : 15:39:45
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Hi
in my opinion the trustee is absolutely 100% wrong here Mark. Names on deeds and/or mortgages have no relevance as to a persons legal interest in a property involved in a bankruptcy.
If your wife has never had a bank account of her own, do you have a joint account and is this the account from which the mortgage payments and utility bills have historically been paid?
John White
England Jackman & Spacey |
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markm
Junior Member
United Kingdom
115 Posts |
Posted - 29 March 2009 : 16:02:28
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We have got a joint bank account but it is only a savings account and is always empty haha.
All the bills have been paid from my privlidge co op bank account.
I have always paid my mortgage from paying in book.
Mark |
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John
New Member
United Kingdom
73 Posts |
Posted - 29 March 2009 : 16:24:07
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Hi Mark
as always in these circumstances the choice is yours. Negotiate on the purchase price of your wife's BI or stand your ground.
If you would like to talk the matter through Mark let me know, I'm sure something can be arranged.
If you choose to question the interest in the property aspect it's difficult to give you the best advice through the forum as it is quite detailed.
John White
England Jackman & Spacey |
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RHB
Senior Member
1159 Posts |
Posted - 29 March 2009 : 16:46:57
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| So where a husband goes bankrupt & the wife is a housewife say, an OR can argue that 100% equity is the bankrupt husband's even if both names are on the deeds? |
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John
New Member
United Kingdom
73 Posts |
Posted - 29 March 2009 : 16:58:24
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Hi
technically yes, the OR has the ability to use this arguement in the same way as the non bankrupt spouse.
John White
England Jackman & Spacey |
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sonia
Starting Member
28 Posts |
Posted - 30 March 2009 : 07:52:21
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After reading your story now I can clearly understand why this country has gone to the toilet and why we are all in financial crisis. You must be going through hell markm, I can understand because I was once in your position once. What I suggest to you is to try and do everything you can to get out of this #### your in, and when things have settled get a pen and notebook and write down everything from beginning to end.
I can see your running around like a headless chicken trying to raise funds, either from banks, building societies or family members. End of the day your still a human and you do have rights. but once these trustees get involved that's it your up against the wall and are held to ransom, basically pay up or die. To me it sounds like you are being more than reasonable in trying to arrange funds, keep a diary and try and keep everything in writing especially when you are contacting the OR or trustee. You are doing your best to negotiate and later on you are entitled to put in an official complain against these crooks, I am sure that the courts are not 100% aware of what most of them do and how they hound people down like dogs to get every drop of blood they can out of them. It's because we get scared and frightened in to doing everything they say, the reason this is because we have no knowledge of our rights and they know this very well thats why they will take the maximum advantage of people like you and me who are in a very vulnerable position.
When all the dust is settled and hopefully you come out ok, if you believe that the OR or the trustee has been unreasonable or you are not happy put in an official complaint against them. The more complaints against these crooks the better, maybe then this country will be able to climb itself out of the toilet its in.
I am not sorry if I sound bitter because I have been through this system and I will stand by what I say about trustees and OR's maybe some of them do have halo's but I have yet to see one.
markm, good luck mate, and don't forget you must keep a track of everything you do in writing especially when you are negotiating figures., keep copies, send them recorded if possible, believe me when this tide settles then it will be your turn to create some storms and waves of your own.
Find out your rights, if you've got google use it its great. |
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markm
Junior Member
United Kingdom
115 Posts |
Posted - 30 March 2009 : 13:58:31
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Thanks Sonia for your words of support.
Just to let you know, i have the money to pay of the trustee. so all loking good.
I wanted to go through and see her and the head trustee to give them an offer face to face.
And guess what now!!!!
She's on the sick !!!!!!!!!!
Can you beleive it?
And there is noone that i can speak to either!!!
Thanks for you advice John to, you've been a good help.
Thanks to Melanie to for you help, Vanessa has been great, am going to get back in my Home and back on my feet!
P.s I will keep everyone informed of what is going on and update you as and when.
Mark |
Edited by - markm on 30 March 2009 14:01:29 |
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markm
Junior Member
United Kingdom
115 Posts |
Posted - 30 March 2009 : 14:04:20
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Thats the thing with this, they talk about the house and the property and the equity.
I've never looked at it like that.
It's my HOME.
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markm
Junior Member
United Kingdom
115 Posts |
Posted - 31 March 2009 : 12:54:20
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I,ve finaly have got in touch with the trustee's clarke who is dealing with my wifes bankruptsy.
As i said in an earlier post she was on the sick yesterday and the trustee did not have time to speak to me.(i have never spoke to him yet).
I made the offer of 16 k for the full and final settlement of the debt, she has now said that she has a increased offer of 75k on the house and she had refuesed the bid and she might have another increased bid on that,to 80k.
She said that the 16k offer from me was far short of the 19.5k they want and she would sell if i could not meet that amount.
I have asked to speak to the O R and explain the situation, she said the O R would not speak to me or discuss any amounts becouse the trustee has be instructed to get as much as legaly possible.
I asked if i could speak to the trustee and even if he meet me half way with the price , so 17.5k but she said he would not, she said that she would ask the trustee and get back to me.
But she never seems to ring me back. |
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sonia
Starting Member
28 Posts |
Posted - 31 March 2009 : 13:16:26
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Well it looks they are deliberately doing this so they can take every last penny they can out of you. This is how they make their money the thieving #### and to top it off they tell you its legal. You have been very good and have been trying to negotiate with them. Like I said keep a record of how things are being handled and how un-reasonable they are being,
They are not above the law, and don't be frightened, I was in a much worse situation than you and because I did not have the knowledge then that I do now I lost thousands, do what you can possible to get yourself out of this mess and when things have finished put in a complaint to the relevant bodies. I don't care what anyone says but it's about time people started to stand up for themselves against these cowboys.
Just because they use the law to do people over is sick, you have rights, find them and use them. If I was you I would try and seek as much as information on how unreasonable this trustee is being and don't let them fob you off. Don't be a victim. In the world's financial crisis where the hell do they expect the average person to get so much money, and just because he has a house then it entitles them to use it against him. Why don't you just bring back hanging instead of slowly killing us off like this,
sorry markm if I sound p##### off but believe me if you went through what I did you would to.
Take care, and most importantly keep notes and a diary day by day and event by event on what efforts you put in and how you have been treated by these cowboys/cowgirls. It will come in useful.
It's a money making scam that's all. anyone beg to differ then they can |
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RHB
Senior Member
1159 Posts |
Posted - 31 March 2009 : 13:54:55
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| Do they have to go to court again to actually sell the house? Since half the equity is yours you must have some rights. It really could be worth paying out for someone reputable to deal with this for you, who could get to speak to the organ grinder rahter than the monkey. |
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My wife was made bankrupt 4 years ago
