Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • BeccaGee
    • By BeccaGee 8th Jul 18, 8:33 PM
    • 27Posts
    • 3Thanks
    Husband bankrupt and Trustee wants to sell our house??!!!??
    • #1
    • 8th Jul 18, 8:33 PM
    Husband bankrupt and Trustee wants to sell our house??!!!?? 8th Jul 18 at 8:33 PM
    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?

    Canít I stay in it? He is bankrupt not me.
Page 7
    • warby68
    • By warby68 7th Aug 18, 10:57 AM
    • 1,071 Posts
    • 10,095 Thanks
    Itís not that odd for a wife to not work at all and be Ďtraditionalí with the set-up. Itís just the media that makes out all marriages have both parties working full time etc. Iíve been married 31years and I donít work! We have no kids, 2 dogs and 2 cats. I look after the house, the husband, our money and am almost CEO of our life which has been very successful. I paid off our joint mortgage in our 40ís, we have healthy savings, etc. etc. In fact, I think one of the reasons for the high divorce rate nowadays is women working. Just our opinion but like I say, weíve been happily married 31 years and Iím hardly the little woman at home. I look after it all, he just earns it. He told me when we got married he wanted a wife at home, it works for many, very successfully.
    Originally posted by GSDlover
    That's fine but you have only experienced success. OP's husband has had deep financial troubles for years. What would you do in those circumstances? Wouldn't you want to know and to help? If not, then maybe 'little woman at home' actually does have some resonance.
    • lisyloo
    • By lisyloo 7th Aug 18, 11:01 AM
    • 23,268 Posts
    • 11,796 Thanks
    It!!!8217;s not that odd for a wife to not work at all and be !!!8216;traditional!!!8217; with the set-up.
    This is absolutely fine IF you can afford it and clearly you can, however the OP is about to lose their house, so it has been suggested that this set-up should be re-considered. I think that's good advice if you cannot afford to live on one salary.
    BTW - it's not necessarily the same financially for people now as it was for you when you started out 31 years ago. People are facing higher house prices/rents, worse job prospects, less secure employment, fewer jobs for life/good careers, students debts and high pension contributions required dir to increasing logevity i.e. you have had it better than some purely due to when you were born.

    Its not a moral judgment at all to say that if you can't afford a certain lifestyle then you need to cut your cloth to suit.
    It applies to everyone at every level on income and is nothing to do with gender.
    If you can't afford it - you can't have it - simples.
    • McKneff
    • By McKneff 7th Aug 18, 11:28 AM
    • 36,365 Posts
    • 46,897 Thanks
    You keep saying you dont work.

    Why dont you work.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
    • Tinks74
    • By Tinks74 7th Aug 18, 1:39 PM
    • 199 Posts
    • 127 Thanks
    Yes indeed - then there is the Insolvency Service Case Management Fee - just over £2k last time I looked - but then..... the biggest robbery of all is when the IP is appointed to 'dispose of the property'. I have seen IP fees typically £30 - 40k and up to £70k simply for handling the sale and a few frills.
    Originally posted by debt doctor
    To be fair it is disingenuous to say the IP deals with "a few frills", the Official Receiver does not do all of the work that an IP is required by law to do, the Insolvency Rules even state that they have much longer time periods to complete work than an IP.

    The Official Receiver regularly gives hospital passes to IPs of Bankruptcy cases that are often only weeks away from the use it or lose it three year property deadline because they have failed to deal with the matter in a timely manner, fully expecting the IP to then come in and sort it out before the expiration of the deadline.

    This is why it sometimes appears that the requests come out of the blue to the Bankrupt and their families.

    The other thing to remember is that it is possible for an IP to take on a Bankruptcy case and receive no remuneration if assets fail to realise funds for whatever reason, yet they are obliged by law to complete reports and tasks for which they will not get paid. The first person to get paid in a Bankruptcy is the OR, they make sure of that.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

92Posts Today

2,598Users online

Martin's Twitter