Just one thing...

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  • lovinituk
    lovinituk Posts: 5,711
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    Sorry to make it clear the equity is about 166 so 83 is left for me, but I just wanted to know after the house goes does he still have to pay towards the outstanding debt, and do the fees come out of my share?

    He stupidly thinks that it will all be ok! I have my doubts as
    As far Ias I can see I will be forced to sell and have to rent, which will be far more expensive which I won't be able to afford. That makes no sene as surely child welfare is of paramount importance so how will we afford it? And if we stay separated how will he pay maintenance? Is that consider
    Having read your other threads/posts on this matter, you have been given several answers for all of this already.

    Unfortunately what you consider fair doesn't really come in to it. There are procedures in place that cover all of this and you have to abide by them.
  • Neocon
    Neocon Posts: 18 Forumite
    You had the house to yourself for a year after bankruptcy without the trustee "hassling" you. This was when you should have sorted it out. The three years grace is up now.
  • threeofus
    threeofus Posts: 106 Forumite
    I know there isn't anything I can do as I can't buy his BI but what I wondered was if there isn't enough to clear his debts then does he have to still pay the trustee the payment order until the outstanding balance is cleared? This will impact is ability to pay maintenance. I know I'm in a better position than some but it's still been pretty horrific and caused a lot of stress, especially as I didn't know about it nor had a choice in his decision. My equity will go on rent and that's a worry for me.
  • silvercar
    silvercar Posts: 46,867
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    if there isn't enough to clear his debts then does he have to still pay the trustee the payment order until the outstanding balance is cleared?

    He has to pay until 3 years of an IPA are completed.

    But any maintenance that has been stamped by the court are considered a reasonable expense of his when the size of his payments are calculated.
    This will impact is ability to pay maintenance.

    Not really because agreed maintenance will be allowed for in his SOA. It may impact anything he gives you over and above the agreed maintenance.
    My equity will go on rent and that's a worry for me.

    Unless you use the equity you have to buy on your own. Something more affordable than you had when you were with your husband.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • Have you tried looking into Shared Ownership/Help to Buy properties?
  • threeofus
    threeofus Posts: 106 Forumite
    I've looked but couldn't find any nearby, I've seen some houses to rent but they cost £1,000 a month more than my mortgage but I guess that's something that I will have to do. What a nightmare, but one I have to just accept, as long as I get the most I can from the sale of my home, and he is able to pay the correct maintenance I will be able to rebuild my life...thanks for your advice and help. I've learnt some life lessons here and just wish he had thought to seek advice before making the decision that really has lost him everything - it's so sad.
  • Please don't feel sad. He will be ok.

    Bankruptcy is not the awful awful thing that it used to be. He will soon be debt free and can start off again with a fresh slate.

    *hugs*
  • silvercar
    silvercar Posts: 46,867
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    I've looked but couldn't find any nearby, I've seen some houses to rent but they cost £1,000 a month more than my mortgage but I guess that's something that I will have to do. What a nightmare, but one I have to just accept, as long as I get the most I can from the sale of my home, and he is able to pay the correct maintenance I will be able to rebuild my life...thanks for your advice and help. I've learnt some life lessons here and just wish he had thought to seek advice before making the decision that really has lost him everything - it's so sad.

    I can't work out if you are still with him or not.

    If you were with him then his SOA (and therefore IPA) would be based on the needs of a family, albeit with your income included in the calculations.

    If you are separated, then his SOA is based on his needs as a single person but with maintenance payments to you for the children allowed.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • threeofus
    threeofus Posts: 106 Forumite
    Currently separated. Pleased that maintenance is included as i would need this to provide for the children. Thanks for your help.
  • threeofus
    threeofus Posts: 106 Forumite
    I don't feel sad for him, sad for the circumstances he has put his family in
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