Help! Negotiating paying off ex debts

CJames · 20 March 2018 at 6:02PM

Hi

i am new here, so need advice if possible

I am in a right mess due to my ex husband going bankrupts twice now. His first debt was with Lloyds bank in 2010 he had a CCJ and charging order put on my house for just over £19k he then went bankrupt 7 months later. I couldn't afford to divorce him at the time I look back and wish I had borrowed it due to the more debt he incrued on the house.

the house in 2010 was in negative equity so they left me and my 4 children alone and I continued to pay off the mortgage on my own with no support from my ex, the mortgage company Santander would not remove him from the mortgage despite every effort I tried for years, so he remained on the mortgage and the house deeds but owner of 50%

I divorced him in 2016 and then in August 2017 I inherited money , both my parents passed away within a couple of months of each other in 2016/2017 , ex was about to sign the house over to me but 2 days after I receive my inheritance he goes bankrupt for the second time. I am now fighting this with a solicitor and not getting very far. Although the 2010 bankruptcy has ended they still have the charging order on the property and will not remove it until I sell the house and they get the proceeds from the sale of his share, I have argued my share of more than 50% but again they will not accept this neither will his current bankruptcy, I have proof I have paid on my own into the mortgage and now the house process have increased since I have paid for 8 years they want their money.
I am not in a position to pay off the debts in full and the current mortgage which is still in both names. I am stressed beyond belief.

I am now in talks with my solicitor about negotiating a settlement amount for his debts, not 100% sure what this current bankruptcy is for but my ex says its about 12k but I don't believe its that much I think maybe higher.
So charging order first one for Lloyds is 19k lets say second bankruptcy order is 12k does anyone have any idea what they think these debts could be negotiated to? Will I be able to get them down? Or will I have to pay them in full?
Any suggestions and advice greatly appreciated.

National_Debtline · 20 March 2018 at 7:41PM

Hi CJames and welcome to MSE,

This is a very complicated situation and there are a few things to bear in mind. First of all, secured debts are excluded from bankruptcy, which is why the charging order still stands.

With regard to the more recent bankruptcy, I am afraid a discounted settlement is extremely unlikely. The only way to cancel his bankruptcy now, is to apply for an annulment. This will cost the minimum of the total debts that he went bankrupt for, plus any costs the Official Receiver has incurred, plus legal advice as this is a very complicated application to attempt. And one thing you should consider, is this worth spending your inheritance on?

I appreciate you may not want to sell your home, but if you did, they could only take 'his share' and you can split away from him financially. Your share of the equity and inheritance would not be at risk. (And you are doing the right thing by getting legal advice about whether or not you can challenge his share as being less than 50% based on the fact that you have contributed more- this is another very complicated issue). Best of luck,

Laura
@natdebtline

Help! Negotiating paying off ex debts

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