Post bankrupt question

What_to_do_now?

Hi, any help or advice would be really appreciated about the following issue, please bear with me if the thread is a little long!
My husband was declared bankrupt in 2012. He is now discharged and not paying under any payment schemes etc.
The issue which has raised its head relates to his ex wife and the joint mortgage they had on their property (been divorced 9 years). The ex wife kept the marital home when they split on the understanding that she removed my husband from the mortgage and the deeds of the property-this is documented in a consent order at the time of the divorce. We have received a letter this morning from a firm of solicitors acting on behalf of the mortgage company stating that the mortgage is very much in arrears (around £6000). The letter was addressed to the ex wife and my husband. Obviously there are the legal implications to look at as the consent order has not been complied to by the ex wife, but from the bankruptcy point of view does the bankruptcy negate my husband from the mortgage anyway? I appreciate this may seem an odd question but my understanding was that following bankruptcy all debts are effectively wiped out and you then look to rebuild your financial reputation etc.
Any advice would be great

CKhalvashi

As far as I'm aware, the bankruptcy only deals with unsecured debts.

The mortgage would be very much secured, and wouldn't be covered by it.

fermi

As long as you have not signed after your bankruptcy anything from the mortgage company agreeing or acknowledging liability for the mortgage, then no, you are not liable for it.

Bit of a myth or misunderstanding to say that bankruptcy does not affect mortgage/secured debts.

Your liability to pay it is covered by the bankruptcy, but what isn't is the creditor's right to enforce their security by repossessing and selling.

So..

- They can ask you to pay arrears, but you can tell them to get lost.
- They can repossess and sell, but your liability to pay any resulting shortfall and costs is covered by you bankruptcy.

Other persons on the mortgage are still liable if not bankrupt.

Also worth a read --> https://forums.moneysavingexpert.com/discussion/4873346

Niel76

Hi there.
I declared myself bankrupt in 2009 and tomorrow it will be 6 years since I done so. After I went bankrupt a letter came to my house and was from Bradford County Court to say that Egg Credit Card had put a charging order on my home. I rang Egg who said that this still had to be paid because it was now secured to the house. I receive letters off them telling me I can settle at a reduced fee etc but I have been paying them 20 pounds per month for the last 5 years approx but now have just been told off a friend that I should not have to pay this debt and I woukd just like clarification on this matter? Thank you in advance.

Niel76

My apologies...I think I have posted my question on somebody elses? How do I post my own?

Rrushi_Shqiptar

Niel76 wrote: »

My apologies...I think I have posted my question on somebody elses? How do I post my own?

Back to the main forum regarding BR and living with it, select the new thread tab which is in red on the top right hand side of the page.

What_to_do_now?

fermi wrote: »

As long as you have not signed after your bankruptcy anything from the mortgage company agreeing or acknowledging liability for the mortgage, then no, you are not liable for it.

Bit of a myth or misunderstanding to say that bankruptcy does not affect mortgage/secured debts.

Your liability to pay it is covered by the bankruptcy, but what isn't is the creditor's right to enforce their security by repossessing and selling.

So..

- They can ask you to pay arrears, but you can tell them to get lost.
- They can repossess and sell, but your liability to pay any resulting shortfall and costs is covered by you bankruptcy.

Other persons on the mortgage are still liable if not bankrupt.

Also worth a read --> https://forums.moneysavingexpert.com/discussion/4873346

Thank you so much