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avongirl
Starting Member
3 Posts |
 Posted - 02 July 2009 : 12:59:04
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Hi, wanted to see if any advice could come my way? I am married, but ready to walk away, i want to leave my husband with the house, im not intrested in it, i don't want a penny from him.
I have a load of debt (£40,000) run up by credit cards and loans to pay they these of, we have been on a IVA plan for two years and this has caused us to split up, also i got made redundant earlier this year, this has added to our problems even more.
Would i just be able to walk away form him and leave him the house?
As i would then declare myself bankrupt and start afresh on my own?
Thanks in advance. |
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gettingoutofdebt
forum expert
2418 Posts |
Posted - 02 July 2009 : 14:47:29
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If the house/mortgage is in joint names then you should see about getting your name taken off just to make a clean break.
If you declare BR then any joint debts, including the mortgage, will automatically become your husband's responsibility.
You would be able to leave the property and declare yourself BR and not have to worry about any of the debts or the house if that is what you want to do. |
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RHB
Senior Member
1159 Posts |
Posted - 03 July 2009 : 07:30:37
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| Is there equity in the house? Are both names on the mortgage? |
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avongirl
Starting Member
3 Posts |
Posted - 03 July 2009 : 09:08:59
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quote:
Originally posted by gettingoutofdebt
If the house/mortgage is in joint names then you should see about getting your name taken off just to make a clean break.
If you declare BR then any joint debts, including the mortgage, will automatically become your husband's responsibility.
You would be able to leave the property and declare yourself BR and not have to worry about any of the debts or the house if that is what you want to do.
Thank You. |
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avongirl
Starting Member
3 Posts |
Posted - 03 July 2009 : 09:11:40
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quote:
Originally posted by RHB
Is there equity in the house? Are both names on the mortgage?
Yes to both.
Like i said " i want out and away from him, with nothing to do with the house or him, i don't want a penny (not that there would be much), i want a clean break and a new start". |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 03 July 2009 : 09:21:16
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If you are in an IVA, you will have to let that fail before you go bankrupt.
The glimmer gets brighter all the time
Jan
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Blair
Starting Member
27 Posts |
Posted - 03 July 2009 : 21:15:56
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Hi avongirl,
Please bear in mind that if there is any equity in the house, then the official receiver will want your share. How much equity do you think there is? |
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RHB
Senior Member
1159 Posts |
Posted - 04 July 2009 : 07:31:28
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| Also, if you go bankrupt then your ex becomes liable for any mortgage arrears & will have to find the money for your share of the equity. It would be a good idea for him to take over the mortgage though if he is able to do so. Also, if you get the house valued again, for him to buy you out. |
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Hi, wanted to see if any advice could come my way?
