Questions re Bankruptcy

longtermplanner

re your old house & your ex. yes StepChange would be a good place to start - if they feel you need more specialist advice they should be able to refer you or point you in the right direction. If there was no mortgage on the house then there is a serious issue here that you have to find out about before you go bankrupt.

re your concerns about lack of rent / mortgage. First I would suggest that you should move out to rent somewhere before going bankrupt. but even if you don't, just record you actual outgoings on the bankruptcy form. If they later rise when you are renting, then you just inform the Official Receiver. This might seem complicated but it isn't. It is a minor detail - your old house is the issue that has to be clarified so you know where you stand.

Bella_Smythe

bump. help please? please? re what to do about old house?

Bella_Smythe

well Ive been trying my best but still not able to get any definately facts about the 'other' house.
Stepchange - Ive had emails back and forward and they have been very helpful but unable to say what would happen, it would be down to the OR. Also tried CAB without much help, insolvency helpline etc. I ever phoned Hull OR and spoke to the Assistant OR, she said that the OR would take the history of violence into consideration but that she couldnt categorically say that they wouldnt go after it. so I said well should i wait until five years have passed (three more) and she said that might not be the best option for you. she was very sympathetic and nice. But i can't file BR and then change my mind and delay for three years if they are going to go after this house. Its bothering me a lot and on my mind 24/7. no one, and I mean no one, seems able to advise me on this one

woodformoretrees

Am wondering whether one of the domestic violence charities may not have someone who would be able to offer advice, or maybe point you in the right direction/advocate for you?

longtermplanner

I can't see a DV charity having in house resource to answer this. And promises of help with advocacy in the future are not worth a lot I am afraid. Bella needs a clear answer now.

I am sorry but as you are very worried by the prospect, I think you have to put bankruptcy on hold for 3 years.

banksshouldworry

If you qualify for Legal Aid:

https://www.gov.uk/check-legal-aid

You may be able to get free legal advice on your issue from:

https://claonlineadvice.justice.gov.uk/

Trinitrotoluene

Hi Bella

I've been looking into this for the past half hour for you but not come up with a definitive answer.

The regulation and advice in regards to how the Official Receiver should behave is here:

http://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch25-36/Chapter31/part4A/Part%201/Part%201.htm

http://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch25-36/Chapter31/part4A/Part%202/Part%202.htm

http://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch25-36/Chapter31/part4A/Part%203/Part%203.htm

http://www.insolvencydirect.bis.gov.uk/technicalmanual/Ch25-36/Chapter31/part4A/Part%204/Part%204.htm

Certain parts interesting to maybe your position

So far as bankruptcies are concerned, if the transaction is more than two years prior to the presentation of the petition, it is necessary to show that the debtor was insolvent at the time of the transaction (see paragraph 31.4A.109), or became insolvent as a consequence of the transaction [note 20]. Evidence in support of this would be documents such as accounts and accounting information, demands for payment from creditors or Crown departments or increasing overdrafts on bank accounts.

There reference above:34.4A.109

In a bankruptcy case, with regard to a transaction at an undervalue or a preference, the individual is considered to be insolvent if:

He/she is unable to pay his/her debts as they fall due [note 9], or
The value of his/her assets is less than the amount of his/her liabilities [note 10].

What is the extent of your current debt? Were you in debt when you gave him the house? It should be important to note what I am offering here is my interpretation of the handbook and shouldn't be read as gospel!

Bella_Smythe

unfortunately yes i was already in a DMP when I 'gifted' the house to my ex. its such a difficult one. even the assistant OR, whilst kind, courteous and helpful, said she could not 'categorically' say the OR would not go after this property, although he would take the history of violence into consideration. the only way to find out for definate seems to be to declare BR, and then it would be too late to back out if they did go after it. catch 22.
maybe i will write to the OR, explain my entire history, and see what happens then?
thanks for answer Bella

Bella_Smythe

ps I owe just short of £40 K and my husband around £18 K. any shortfall after our house is repossessed/sold will be added to this

Trinitrotoluene

I don't think they will give you a definitive answer, Bella. It's a difficult one and I feel for you. Good luck with whatever you choose to do.