Please help

Glenn_Wilson

Hello,

Could somebody please help, and give me their thoughts on what the OR would do with my assets if I go BR.

First I will give you a brief history of how I ended up owing about 40,000 in unsecured debts via credit cards and loans.

About six years ago I divorced from the then wife, we had a house however the morgage was only in her name, we went through the courts because the greedy women wanted to keep every thing. I was given by the court a 1/3 share of the equity which is now worth about 35,000.

As a way of trying to reduce my outgoings me and the exwife agreed that I would sell my 1/3 share to her by way of her releasing me from all child maintance payments and arrears which total to about 30,000, she also agreed to give me 15,000 in return I would transfer to her my share in full .

This all seemed ok because by being released from Child support payments 450 per month along with the 15,000 I could then avoid BR and work towards recovering from my debts.

However my exwife found out about the possibility of me going BR and was advised by her solicitors that if she went through with the deal and then at some time in the future I went BR the OR could over turn the sale of the house and she would lose her 15,000, She now has said that she is willing to release me from child support payments as already agreed, but will not give me the 15,000 untill 5 years after the transfer of my share of the house which would protect her if i did go BR.

My question is,

If I did have to go BR at some time within 5 years would the OR over turn this agreement in which she paid me via release of child support payments.

Also would I lose the 15,000 even though I will not receive it for 5 years

Many Thanks