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susan.g
Junior Member
171 Posts |
 Posted - 27 April 2008 : 22:47:20
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| i live in a house mortgaged by my husband only, i dont have any assets in my name or joint name. what would happen if i declared bsnkruptcy\with the house? |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 27 April 2008 : 22:50:03
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Hi there and welcome to the forum
Several questions so that we can help further.
How long have you been married and what contributions have you made towards the deposit and ongoing monthly mortgage payments/
What is your level of debt and why do youthink that Br is the right course of action?
What sort of work do you do and what is your monthly disposable income?
hope to get answers so we can give you better advice
thanks
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
www.revivauk.com |
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melanie_giles
Senior Member
1191 Posts |
Posted - 27 April 2008 : 22:54:38
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It is possible that you may have developed a beneficial interest in your husband's property, hence the questions posed by Paul above. This is definately better looked at prior to any bankruptcy application, and you may need to take specialist legal advice in order to counter any subsequent claim from a Trustee in bankruptcy.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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susan.g
Junior Member
171 Posts |
Posted - 27 April 2008 : 23:09:21
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The debts I have relate to a previous marriage.
I have never paid anything towards mortgage or deposit. I only work part- time due to ill health.
I pay the gas and water bills and food. I have approx £100 left over each month to pay against my debts. My debts are approx 40K.
I signed a declaration with the mortgage company that i would have no legal claim over house when mortgage was taken out by my husband.
I work for a government dept. |
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melanie_giles
Senior Member
1191 Posts |
Posted - 27 April 2008 : 23:12:17
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Then I feel that you could successfully argue no interest in your husband's property - but it would still be sensible to get a legal opinion just to be sure.
For an informal chat about any financial difficulties, or advice as to the options available, I can be contacted via my website - www.melaniegiles.com |
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Helpful Advice
Average Member
United Kingdom
646 Posts |
Posted - 28 April 2008 : 14:40:48
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Hi Susan,
With the declaration being signed and the fact that you have contributed nothing to the purchase of the property and mortgage payments, that you have a strong argument for having no interest in the property.
Was the property owned by your husband prior to you marriage?
Kind Regards,
Brett England
Bankruptcy Specialist
England,Jackman & Spacey
WebSite www.ejands.co.uk
View my personal story & blogs at:
http://brettengland.blogs.bankruptcyhelp.org.uk/ |
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what would happen to house in bankruptcy ?
