We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
bankrupt husband?
crutches
Posts: 1,065 Forumite
i think my husband may be made bAnkrupt for business debts soon.will i lose MY house(ie its in my name only)?
Do i have to get him out to keep my home?
im on inc.ben and DLA so no earnings of my own and 4 dependent children.
Do i have to get him out to keep my home?
im on inc.ben and DLA so no earnings of my own and 4 dependent children.
Every day above ground is a good one 
0
Comments
-
Hi crutches - If your husband is declared bankrupt, this should NOT affect the house, provided that it has not, recently, just been 'put' into your name, to purposefully try to avoid losing it. If your husband has been contributing towards the mortgage, then the official receiver MAY decide that he has Beneficial Interest (BI) in the house, and will look to realise that BI, either by offering you, or a friend/relative, the chance of purchasing that BI, or by forcing the sale of the house.
If, on the other hand, the house has always been in your name, then you should have absolutely nothing to worry about.
Kicking your husband out (unless you want to) will have no effect, either way.I am NOT, nor do I profess to be, a Qualified Debt Adviser. I have made MANY mistakes and have OFTEN been the unwitting victim of the the shamefull tactics of the Financial Industry.
If any of my experiences, or the knowledge that I have gained from those experiences, can help anyone who finds themselves in similar circumstances, then my experiences have not been in vain.
HMRC Bankruptcy Statistic - 26th October 2006 - 23rd April 2007 BCSC Member No. 7
DFW Nerd # 166 PROUD TO BE DEALING WITH MY DEBTS0 -
Crutches
Even if your house is in your name only, the OR may decide that your OH has an beneficial interest in the property. What is the value of the house and what is the value of any mortgage and secured loans?
A lot depends when you bought it, what he has contributed towards it and how long you have lived with him and had the house.
If there is a beneficial interest, you or someone else may be able to buy this from the OR rather then sell the house, but plainly, you do not have any earnings.
I recommend that you post over on the BK and living with it board, just go to the front page of the forum and look up a bit. There are a number of people who have faced a similiar situation. You also need to make an urgent appointment with CAB, CCCS or talk to national Debtline. All the contact details are on the link for debt charities on the front page.If you've have not made a mistake, you've made nothing0 -
thanks .bought by me in 1991,married 1995,he moved in late 1998.ive always worked till recently(3 yrs) he's always made a loss and we live off WFTC usually so i dont know if that counts as his income.as it all goes to my account.(sep accs no joint one).
mort is approx£30,000.value possibly 70,000- 90,000.(difficult to tell as no similar ones around.)Every day above ground is a good one0 -
Every day above ground is a good one0
-
hi crutches, this is a good site for bankruptcy info http://www.debtquestions.co.uk/0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.1K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.7K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards