Ex-hubby going bankrupt - wot will happen to the house?

Hi,

I'm pretty new to all this but from what I understand, if your ex h goes BR then anything in joint names will fall to you, so the house and secured loan would become your responsibility if it is in your name too. I dont think the OR would take responsibility for it and it wouldn't go into your ex h bankruptcy, you would have to take it over, unless youa re going bankrupt too? (im not absolutly sure but someone that does know will be along in a bit!)

I think it would be best if you contact one of the debt charities, like CCCS or maybe the Citizens advice and see how they can help.

Good luck x

yippee, I got it right for once!!

Sorry. All the joint debts will fall soley to you in his BR. Your solicitor is right and there is nothing that can be done about that - they are not written off as you have joint and full responsibility.

You will be chased for all debts by the mortgage company, first plus and any other joint debts you had (bank accounts for example).

You do have some options though. You can take it all on yourself - you will have to pay the mortgage and secured loan, plus purchase your ex's beneficial interest in the property (£1 plus £220 fees if no equity). Reading your post though I am under the impression that this is unlikely as you are already struggling and you are in arrears. To prevent repossession you will have to ensure that you can keep up with the actual payments plus pay off a sum of the arrears.

Another option is to declare BR yourself. Have a long chat with CCCS or Payplan about your options. If you stop paying the mortgage/secured loan and all your debts, then eventually the mortgage company will repossess the property and you will be evicted. Under the circumstances (being forced into BR by OH, and the fact you have a child), your local council should help you at this point by re-housing you. It may be hostel style accommodation to start with before you are offered anywhere else. Or you could rent privately. At the same time, you should declare yourself bankrupt and wipe all your debts, enabling yourself and your son to start life again with a clean slate.

Your ex is clearly wiping his slate clean to start a new life and its not fair when someone else has to suffer because of others actions. But you have no choice in the matter. You cannot ignore it and it won't go away. But being female makes us the stronger species!!! Its going to be a long slog, but I can promise that things will be better once you are out the other side. And this is the best place for support, advice and help!

Good luck, whatever happens.

Did your divorce settlement not include these kind of financial commitments? Whoever your solicitor was, at the time, should have picked this type of potential problem!