Hearing on 28th August

Rooby2Shoes

Hi
I really need some advice
I owe HMRC 36000, so there is a hearing on 28th August. it has already been adjourned twice, to give my partner and I time to remortgage. The house is in my name but my partner has been paying the mortgage for 8 years. I had a breakdown, so couldn't work, and lost my business. HMRC would not back date the VAT when I unregistered.
So my partner wants to buy the house, and borrow extra to pay the debts, but just cannot get a mortgage. he has an excellent credit file, but is self employed. Also there is about 50000 equity in the house
I am panicking, as I dont want to be made bankrupt:exclamati:exclamati:shocked:
Can anyone advice
Many Thanks

TBagpuss

Can you get the house on the market before the hearing? On the face of it you are not bankrupt, as you have an asset worth £50K and debt of £36K, but if your partner is not able to buy the property as a way of you raising the money you owe you may need to look at selling it to a third party so that you can pay the debt. Obviously if you have other debts then bankruptcy may be appropriate.
Your partner may also want to take separate advice of their own as to whether they have any claim against the house in their own right.
If you are able to shp that you are making efforts to sell the house then the court may be able to suspend the making of any order.

tigerfeet2006

Have you spoken to anyone about BR and what it would entail? Do you have any other debts?

Would probably be a good idea for you to have a chat with Business Debtline to discuss options etc. https://www.businessdebtline.org/