Husband declaring bankcruptsy in divorce

JoeHel

RAS wrote: »

BAt

Please....

Cool it.

Ohcrap, please do not take all this !!!! personally. BH has a long-standing reputation for making adverse comments about people and bankruptcy.

As far as i understand it, since she is paying her debts (or the one's run up for her husband) back, she does not approve of people going BK. So the idea of people on the BK board supporting an OP whose ex is going BK stirkes her as funny.

Not sure the Joe-Hel got the same greeting when he came on here though.

Thank you RAS. :T You are right - I got a lovely reception. I totally appreciate the absolute desperation people facing bankruptcy feel and I think the credit card companies and loan sharks deserve all they get!!! My situation (like the OP) came from a thieving scumbag who is deliberately taking the p*ss out of the system and using it to his advantage.

I feel nothing but admiration for you guys who go through it and come out the other side ... but for HIM I feel nothing but VENGENCE!!! He deserves all the grief he gets - most of you don't. The help I've got on here has literally brought tears to my eyes and I wouldn't have the strong position I do without you. ('specially Rog2 and fermi!!!) xx

ohcrap

Yes I did have an interest in it although it was not in my name, money was going towards these assets during our marriage. Everything was in his name.. even the car that I drive!!

ohcrap

Understand where you are coming from JoeHel ... I feel exactly the same. The b***tards cheating the system for their own gain... they are not genuine people who face the cruel reality of bankrupcy.

blind-as-a-bat_2

ohcrap wrote: »

Yes I did have an interest in it although it was not in my name, money was going towards these assets during our marriage. Everything was in his name.. even the car that I drive!!

Thanks OC, now this is where my knowledge ends but in my view because you are in the proscess of divorce the assetts of the marage havnt been split and in an ideal simple world that should be a simple 50/50 split, but im sure in the real world its not.

this is why you need legal advice as you may be able to claim some of those assets where joint so there maybe a case that you could argue he has had his BI in the house

Unfortunatly i know the OR works in cold hard facts so unless there is some legal challenge anything in his name or which he claims is his will be treated as such

I think the disposing of assets he has already done might become a problem as if the OR feels he has disposed of them at less than market value then that may cause your ex and the persons they where sold to a lot of problems.

This is why i said this could get very complicated and why you really need good legal advice from someone who is good in both family and IS law as there may be a way to safeguard your home within all the mess he has created.

That doesnt mean we might not be able to help through it all but non of us are legaly trained and you cant afford to get it wrong really in something like this

ohcrap

Thank you very much for that advise. Would you or anybody happen to know whether they would take his trust fund into consideration. He is a beneficary of a large trust fund ... or do the OR leave these alone. He also has a massive pension, again is this safe from the OR? I don't have the luxury of such things as he never allowed me to pay into a pension scheme. Thank you! X

blind-as-a-bat_2

Regarding the pension it would depend on the type as some (older ones i thnk) can be taken but most newer ones are safe

You can read more here http://www.insolvency.gov.uk/pdfs/guidanceleafletspdf/pension.pdf

As for the trust fund i must admit thats one area im unsure on but in theory if that money is available to him now or in the future then the OR may be able to vest an intrest, but i think this will depend on just what you mean by a trust fund

fermi

Trusts can get a bit complicated, but the OR will certainly look into it. Some more info HERE.

Addicted2Chocolate

You need to write to OR with as much informatin as possble about the disposal of assets: dates, description of assets (reg number of cars, policy number of insurance policys, account numbers for investments or banks, share certificate numbers etc) so that the OR can make further enquries from third parties such as DVLA, financial institutions etc. Disposal of assets with knowledge of insolvency is misconduct that the OR will investigate. Your ex may be taragetted for a Bankruptcy Restriction Order (BRO) or Prosecution.
If he claims to have repaid friends and family he will have to provided OR with dates, names, addresses and amounts. The friends/family will then be asked by OR to repay the money AND the repaying friends or family is also misconduct for a BRO.

Addicted2Chocolate

Most pension schemes are not part of the bankruptcy estate. However excessive contributions into a pension at a time when he was insolvent may be challenged by the Trustee. I am not sure about trust funds but i know he will have to dsiclose his interest in a Trust fund. Inform the OR of all assets that you are aware of , with as much detail as possible. If he has assets which he does not disclose to the OR that is a criminal offence.

ohcrap

Thank you very much for that advise. Very interesting!!! Makes me feel more positive about the "family loan" situation. Thanks again I will act on this advise! X