Answer: I really cannot say what they may do, they may follow through with their threat to make your husband bankrupt, or you/he may be able to work out a repayment arrangement until you can sell the property.
If they do make your husband bankrupt, if the property is in both your names, your portion of any equity is yours, and the Trustee is still faced with the task of selling the house. It won't sell any quicker just because your husband is bankrupt.
Do yours and your husband's family have documentation of the amounts they are owed, is it with the land registry? If not, then they have no real proof of being owed any money.
Is this your husband's only debt? I ask as if they make him bankrupt all his unsecured debts are included.
Depending on your husband's full situation, is he working, earning a wage, other debts, etc, and what you may profit off the house, he may want to lok into an IVA or a full and final settlement IVA. This can be a stop-gap to avoid bankruptcy, but still is a form of insolvency.
Any assets that are yours in strickly your name should be OK if he is made bankrupt.
I hope this has answered your question.
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