Just one thing...

TakeAwayKing_2

Apologies I missed that bit.
I thought you said you couldn't afford the property on your own.

threeofus

I have done an affordability test with the mortgage company who have said that I can keep it on my own as it is, I just have to work out if I can raise the equity now by remortgaging I have already increased my hours to full time at work and they will take into account the tax credits so am keeping everything crossed we don't loose our home, his children's home, all because of his reckless selfish behaviour...tell you something I really am going to fight for it, why should we suffer anymore than we have...I am full briefed have received legal advice, what I don't understand is how bankruptcy is perceived as a clean slate yet in reality it's far from it unless you have nothing in the first place, he will loose everything I will possibly loose my home, wiping the slate clean I don't bloody think so..it's a living nightmare

StopIt

brightonbelle wrote: »

he is getting away with it, he will get out of paying his debts and I will have to bail him out, it's morally wrong he will be debt free then by March...although he isn't paying his income payment order as he agreed in court...it's unbeliveable

If he isn't paying his IPA/IPO, he will not be debt free in march, he'll be screwed. There's consequences to not following bankruptcy procedure you know.


Even if he did follow it, post discharge he will be a financial dead duck for 6 years as most lenders, some utilities and most mobile operators will instantly reject a bankrupt. Even after the 6 years is up, anywhere that asks "Have you ever been bankrupt" will likely bite him in the proverbial.


I'll say this regarding "Wiping the slate clean". That includes assets. It means you start again from a point of 0. That's the point of bankruptcy. Anything you owe is gone, but any assets you own is also gone. After all, if someone's assets > liabilities, then you are not bankrupt.

threeofus

but that includes my assets too, if I can not raise the remortgage then I will be without a home, am speaking to the mortgage people at lunchtime hoping they can give me an answer sooner rather than later given the circumstances....fingers crossed! just can't wait to get it sorted out for my peace of mind.

TakeAwayKing_2

Sometimes that's what people need though.

People overstretch themselves. They get finance or a mortgage on cars and houses that in reality, they cannot afford and then they are stuck with it and struggling.

Sometimes people need to be stripped back to the beginning, learn to budget, and buy a car and a house that you can pay for and still afford to live, even if it isn't the make you want or in the area you want to be in!

StopIt

brightonbelle wrote: »

but that includes my assets too, if I can not raise the remortgage then I will be without a home, am speaking to the mortgage people at lunchtime hoping they can give me an answer sooner rather than later given the circumstances....fingers crossed! just can't wait to get it sorted out for my peace of mind.

I know, and it sucks. The fact is, that his insolvency will directly affect you until you're financially independent, which means buying his half of the house out. If you can't, I'm afraid the domino effect of insolvency will sweep you under too. It isn't fair, but I've seen enough injustice in my life to know that fairness is not something that really matters when it comes to many things.


I hope you can get something sorted. But remember that through all of this, there are more important things than even what roof is over your head, so long as you have one.

threeofus

it's not fair no, and it is unjust, the good thing is that the anger is making me fight so bloody hard...I'm not willing to loose out because of him..sadly as I have said before if I can not remortgage there isn't a house/flat withing five miles of where we live now within budget, I would have to leave my job, the children leave there schools and that's something that I could not do, I'd have no income for a start!

TakeAwayKing_2

Sorry, quick question - did HMRC petition for his Bky ?

threeofus

they did yes, I didn't know until two days before they actually petitioned him, if that's the right word? xx

TakeAwayKing_2

Ok, when you said he had chosen this, I thought you meant that he had petitioned for his own bankruptcy without discussing it with you.