Bankrupt house

BeccaGee

Hi all

Just looking for some advice really - if you had a house when you went bankrupt and the trustee was going to sell it but then before they did you moved out AND DONT LIVE THERE ANYMORE - would the trustee take monthly payments instead ?
Thank you

Grumpelstiltskin

Why do you think the Trustee would take monthly payments?

What has happened in the 4 weeks since you last replied on your previous thread?

https://forums.moneysavingexpert.com/discussion/5865841/husband-bankrupt-and-trustee-wants-to-sell-our-house

lisyloo

if you had a house when you went bankrupt and the trustee was going to sell it but then before they did you moved out AND DONT LIVE THERE ANYMORE - would the trustee take monthly payments instead ?

No, you still own it .


Have you considered the advice about re-examining your arrangement with your partner that you don't work?
What was the outcome?

Brock_and_Roll

Why on earth would the Trustee take monthly payments when they can get the whole amount now?

On the face of it, moving out is going to make it easier for them to sell it as would have vacant possession......

....unless it is now rented out in which case the OP is really opening a pandoras box of potential issues.

BeccaGee

Well I guess it’s good news that we still own the house!
No nothing else much has changed.

normanna

Hi BeccaGee

You've been given good, sound advice on your other thread. It looks like you still haven't come to terms with the situation you are in and are scrabbling around to try anything not to lose the house - as painful as it is, you will lose the house. Please get on board with this and start to make plans so you can begin to rebuild things.

Good Luck

lisyloo

Well I guess it’s good news that we still own the house!

Ownership remains until it is sold.
A house cannot be sold without you being well aware of an ownership change.


However as you've been told you WILL lose it.

No nothing else much has changed.

So still not considering getting a job?

BeccaGee

I was never considering it.

AnotherJoe

BeccaGee wrote: »

Hi all

Just looking for some advice really - if you had a house when you went bankrupt and the trustee was going to sell it but then before they did you moved out AND DONT LIVE THERE ANYMORE - would the trustee take monthly payments instead ?
Thank you

WHY DO YOU THINK THAT WOULD MAKE ANY DIFFERENCE?
(it wont). They want their money not to be paid so much a month (presumably from rental, is that your cunning plan?

As said it would merely make it much easier for them to sell it.

And, though for the love of god you've been told this a dozen times, if you dont take control and sell it yourself, when THEY sell it, all they will care is did it release enough money to satisfy the debt. they wont care how much is left over.

lisyloo

BeccaGee wrote: »

I was never considering it.

That is your choice, but don't expect to keep the house if you wont even consider the options available.

Grumpelstiltskin

Guys We are banging our heads against the brick wall that is Becca Gee,

She doesn't want to know the reality of her situation so why waste our time?

The S will HTF at some point.