Just one thing...

silvercar · 12 September 2017 at 3:04PM

brightonbelle wrote: »

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

Has the lender agreed that you can remortgage to include the equity you need to raise to buy back the Beneficial interest from the OR? Or has the lender said they are happy for you to take the existing mortgage on your own?

threeofus · 12 September 2017 at 5:57PM

They've said that I could take the mortgage on but with regards the equity can not give a definitive answer until I've cleared his arrears which I've almost done. They have been really supportive and understanding. It's based on affordability they say and with my extra pay and tax credits I will double my income, I've also cleared my own debts so it's manageable. Just got to keep everything crossed, I will rent my bedroom out if I have to to keep it!

threeofus · 13 September 2017 at 10:10AM

When I say chose I should explain that he mismanaged his business, !!!!ed money up the wall, spent it on !!!!!!, and goodness knows what else, his business was profitable and was making money, he can not to this day explain what he spent it on or own up to why he did it..he didn't pay tax !!!!!!, that's why I am so angry, as I say there is more to it than money...got to arrange a surveyor to do a valuation over the next week or two and take it from there

TakeAwayKing_2 · 13 September 2017 at 1:02PM

Is it possible that he was just struggling to service the lifestyle, rather than there being something extra devious going on? It takes a lot to support a family.

Good luck with the surveyor.

threeofus · 14 September 2017 at 6:13PM

No not at all, I scrimped and saved, cleared by debts by going without whilst he was going out, enjoying his hobbies, drinking...he lied to me and betrayed me. But I guess that's made me stronger to fight this, I'm anxious though as the house next door sold for 440!!

threeofus · 18 September 2017 at 12:03PM

Also I assume that in the worst case scenario if I am forced to sell then he will no longer have to pay the Income Payment Order? To rent in our area is in excess of £1500 a month so if he has to pay this then he would struggle to pay the trustee anything - even though he will still owe in excess of 100k once they've taken his equity - is this amount wiped off or does he still have to pay? I understood that the payment order has to run for three years - is this from when he was declared bankrupt or from when the order was set up? Not sure either where he would find the six months rent upfront needed when you are a bankrupt trying to rent, just trying to work out what to do

FlowerGirl27 · 18 September 2017 at 12:45PM

Has he actually got an Income Payment Order?

Did the Official Receiver go to Court and get a Court Order saying that he needs to pay £x for however long, being his surplus income?

An actual sealed Court Order setting that out?

threeofus · 18 September 2017 at 1:40PM

yes he has, he had to go to court to change the date as he wanted it to go out when he got paid, he is subsequently in arrears with it so I am not sure if he has to pay it for three years from when it was set up, three years for when he was bankrupt or it goes when he looses the family home? Also he will have to pay all the rent so his disposable income will be reduced by about 800 quid a month as he only pays 720 for the mortgage, I assume that the payment order will reflect this change? I hope so otherwise it will be pretty hard going with very little income left for any of us xx

FlowerGirl27 · 18 September 2017 at 1:54PM

The reasonable costs of what he has to pay for the family would have been taken into account when the IPO was made, so if his rent is about to increase by £800 he will be able to apply for the IPO to be reduced by £800 per month.

Is he discharged from Bky yet?

FlowerGirl27 · 18 September 2017 at 2:22PM

Oh and it's three years from when the Order is made.

Just one thing...

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