charge on house

Hugo_is_a_good_alias

I lost my business in 2009 and have tried for years to clear the debts  on business  c/cards some ive paid off, i got advice years ago to transfer ownership of our family home to my wife, so she now has 99% and i have 1% this was done 6yrs ago,  2 yrs ago  Mortimer Clarke did a charge on the house for an old sainsbury's c/c for @£4 k,   Today i took the decision to go bankrupt so my question is what will happen to this charge. can i get the charge removed ?  
Thank you 

lisyloo

According to this link it's excluded from bankruptcy.
Debts Included In Bankruptcy. Free Debt Advice. StepChange

Did you get advice before making the decision?

Keep_pedalling

Did you do a thing about getting that set aside?

https://forums.moneysavingexpert.com/discussion/6422087/newbie-here-advice-needed-please-cabot-mortimer-clarke#latest

Baldytyke88

Hugo_is_a_good_alias said:

I lost my business in 2009 and have tried for years to clear the debts  on business  c/cards some ive paid off, i got advice years ago to transfer ownership of our family home to my wife, so she now has 99% and i have 1% this was done 6yrs ago,  2 yrs ago  Mortimer Clarke did a charge on the house for an old sainsbury's c/c for @£4 k,   Today i took the decision to go bankrupt so my question is what will happen to this charge. can i get the charge removed ?  
Thank you 

I have never heard of people having a 1% share, what was the reasoning behind that?

Keep_pedalling

Baldytyke88 said:

Hugo_is_a_good_alias said:

I lost my business in 2009 and have tried for years to clear the debts  on business  c/cards some ive paid off, i got advice years ago to transfer ownership of our family home to my wife, so she now has 99% and i have 1% this was done 6yrs ago,  2 yrs ago  Mortimer Clarke did a charge on the house for an old sainsbury's c/c for @£4 k,   Today i took the decision to go bankrupt so my question is what will happen to this charge. can i get the charge removed ?  
Thank you 

I have never heard of people having a 1% share, what was the reasoning behind that?

It’s often done with rental properties, but I can’t see the purpose with a marital home especially in the OPs position. 

Hugo_is_a_good_alias

Keep_pedalling said:

Did you do a thing about getting that set aside?

https://forums.moneysavingexpert.com/discussion/6422087/newbie-here-advice-needed-please-cabot-mortimer-clarke#latest

I kept up the payments for year trying to clear, then in 2022 sainsburys sold the debt to mortimer clarke 

fatbelly

The CO will be recorded as a restriction. It sits there till you sell. Cabot are just another creditor as far as bankruptcy is concerned.

My worry is the attempted transfer of equity. ( technical manual 28.23, leading to sections 31 & 32)

Have you pressed the button on your bankruptcy application? 

Did you take professional advice before doing so?