About to go Bankrupt - Beneficial Interest question

mrsfruit

Hello All,

I am about to declare myself bankrupt following the failure of my husbands business (he has been bankrupt and is now discharged) as I am being chased by our old bank fro outstanding joint overdraft / loan.

My question is about the beneficial interest in the house - we are effectively in negative equity and my husband has been offered the chance to buy back his share for £211.

I am concerned that we may lose the house but hope that we may be able to pay just one set of legal fees to buy back both sets of beneficial interest.

Any advice on this one is very welcome.

Mrs fruit.

mrsfruit

can anyone help?

embrace1204

Hi

If I was you I'd give the Insolvency helpline a ring, they help people that are about to go bankrupt with any query relating to it.

I contacted them recently re. if my fiance bought my share of the house would he then be classed as joint owner with my ex fiance (we just want rid of my ex fiance) and they were very helpful.

Insovency helpline: 0845 602 9848

mrsfruit

thankyou so much I will give them a bell.

fiveyearplan

embrace1204 wrote: »

Hi

If I was you I'd give the Insolvency helpline a ring, they help people that are about to go bankrupt with any query relating to it.

I contacted them recently re. if my fiance bought my share of the house would he then be classed as joint owner with my ex fiance (we just want rid of my ex fiance) and they were very helpful.

Insovency helpline: 0845 602 9848

The owners of the property would be the ones on the mortgage. That doesn't change with the beneficial interest.