Husband bankrupt and Trustee wants to sell our house??!!!??

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  • BeccaGee
    BeccaGee Posts: 27 Forumite
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    I know what you are saying but we will have to discuss it tomorrow. We are both too upset today it has been a long day.

    I need to try to get some sleep. Thank you all for trying to help me and wish me luck still.
  • mummyofboys1985
    mummyofboys1985 Posts: 84 Forumite
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    The house will be sold. Nothing you say or do will stop it. Your share would be returned, husbands belongs to the OR to use towards his debts.

    I'm sure this woul have been fully explained to your husband when he was made bankrupt?
  • threeofus
    threeofus Posts: 106 Forumite
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    It wasn't explained to mine, or unless he chose to ignore it, two years 3 months is when they first start the process - the only options are to buy the beneficial interest, sell it yourself, or get evicted the let the trustee sell it, mostly likely by auction for a quick sale. The debt has to be paid, my ex abused me, coercive control, verbally and emotionally, also financially as it now transpires keeping me in the dark about his appalling debt. he walks away debt free and has shut the door of his home, leaving this mess. Bankruptcy is a nightmare
  • Breamfod
    Breamfod Posts: 28 Forumite
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    I am sorry yu are having this shock. It was inevitable with the rules and all the advice on implications are given to the bankrupt. I presume the or trustee can’t discuss this with yu anyway as it’s the bankrupt husband who is the person they legally correspond with unless yu have power of attorney. Sorry yu have this worry but although it’s catastrophic for how yu used to living if yu take a step back - yu actually will be lucky enough to come out with a large cash lump sum after sale of your home. That’s a positive. And yu can buy a shared ownership if yu can’t do full purchase. I appreciate it does not seem fair to yu but yu must adjust to reality if your situation. Many are at food banks or facing homelessness if no equity.
    I suggest yu go to see citizens advice a specialist debt advisor have s face to face chat so they can reassure yu of what yu need to do to safeguard your own position. No ones judging yu take care sorry if I sound patronising x
  • renegadefm
    renegadefm Posts: 1,303 Forumite
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    BeccaGee wrote: »
    My husband was made bankrupt in October 2015 and everything was absolutely fine since then for nearly three years all is well.

    But now the trustee wants to sell our house?

    Can’t I stay in it? He is bankrupt not me.



    I think I see what Becca means. If a marriage breaks down, the husband has to give her half of the house or buy her half out so she can find a new home with it.


    Why is this not the case now?
  • comeandgo
    comeandgo Posts: 5,744 Forumite
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    renegadefm wrote: »
    I think I see what Becca means. If a marriage breaks down, the husband has to give her half of the house or buy her half out so she can find a new home with it.


    Why is this not the case now?

    It is the case, the trustee is only after half the equity, the husbands half.
  • renegadefm
    renegadefm Posts: 1,303 Forumite
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    comeandgo wrote: »
    It is the case, the trustee is only after half the equity, the husbands half.



    Yes but my point is compared to a marriage break up, the husband would have had to make sure he provided half the house so she can not be homeless, but if the trustee takes half the house, that leaves the other half of the house's money for them both to find a property suitable for both of them to live in, compared to just one person, i.e. a flat, compared to a two bed house or something.


    I think what I mean is this could leave them both out on their ear. There must be something to prevent this happening.
  • renegadefm
    renegadefm Posts: 1,303 Forumite
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    It's like having £200,000 to spend on a house, compared to £100,000 which wouldn't buy anything these days other than a flat if your lucky. Putting it plainly.
  • renegadefm
    renegadefm Posts: 1,303 Forumite
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    I hate to say it but if she was pregnant now the trustee couldn't do this because it could make them and a child homeless.
  • comeandgo
    comeandgo Posts: 5,744 Forumite
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    renegadefm wrote: »
    I hate to say it but if she was pregnant now the trustee couldn't do this because it could make them and a child homeless.

    Why not rent? They will have £100,000.
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