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My husband is going bankrupt and we have a property together.  What happens to our house in he bankruptcy?
Published in Property UK
My mum died a few years back and left her house to me, my brother and my sister.  I am soon to be made bankrupt by someone I owe money to.  Can they take this property?  I only own a part of it.
Published in Property UK

My partner is telling me he has to go bankrupt and I am worried as he has been paying the mortgage on my property for the past few years.

 

I bought the property before we were together with my own money, but since having children together I have not worked full time and he has paid the mortgage.

 

Will they take my house if he goes bankrupt?

Published in Beneficial Interest

Background:

 

Owned a business as a sole trader and have massive debts form the business and personal totalling 50K

 

My wife and I own a property together, both on the mortgage with a value of 238K, mortgage remaining is 100K

 

I want to give my wife the property or my share of it and then go bankrupt as I can no longer afford to trade and have a paye job elsewhere.

I am soon to be made bankrupt by HMRC and am worried about my partner's property.  We live together and have now for about 10 years.  During that time I have paid for the mortgage up until a few years ago when my business dropped off an trading was slow.  She bought the property and it is only in her name. If I am made bankrupt will they take her house?
Published in Beneficial Interest
Wednesday, 28 November 2012 06:56

If My Ex Goes Bankrupt What Happens To Me?

I left my ex partner years ago.  We had a house together and a couple of loans all of which he has been paying.  He now informs me that he is going to be made bankrupt by HMRC for taxes he owes from his business.  He has told me they will take the house as there is some equity in it, which I don't care I didnt' want the house to begin with.  What will happen to me?
Published in Spouse or Partner
I have a joint mortgage with my partner who is in the process of going bankrupt.  The property was initially bought using the proceeds from a property I owned before we met.  What will happen when he goes bankrupt?
Published in Spouse or Partner
I went bankrupt in Sept/Oct 2010 for approx £30k - I was a the sole trader for a business (pub).
I had no money in the bank and owned 1 property. My family home which I now live in with my partner and 1 yr old daughter.
My property if valued at £210k (would be a miracle if it sold for that). I owe £166K on the mortgage and £22K on a secured loan.
Over 5 weeks ago a solicitor of the bankruptcy contacted me advising me the property was an asset. It is by not by much taking into account it may not sell for £210 and costs etc...I have gone back to her with figure etc but heard nothing back YET.

Yourquestion:   My questions is....what is the best thing to do? What would be there actions?? I understand you can buy the equity back but this would be the utter last resort!

Also, (sorry to ask 2 questions) I'm thinking of training to be a mortgage advisor..(some people may not agree with this as i've been bankrupt) but i've had rubbish advise over the last 2 years and would love to help others. Is this possible??

Thank you for any help!! Its much needed!
Published in Property UK
Tuesday, 11 September 2012 08:09

What Happens If My Ex Doesn"t Pay His IVA?

I separated from my ex 3 years ago and he entered into an iva. He's now unable to pay the full amount due to a new baby with his new partner. He's being taken back to court because of this and I don't know whether he's going bankrupt or not. I've been paying the mortgage for 3 years solely, before that we paid it jointly for 6 years. I'm currently selling the home fro 118500, the value is 125k and the outstanding mortgage is 113k

Yourquestion:   How do I stand if I continue with the sale? Is he likely to be made bankrupt or will they com after his share for his iva? I'm worried as I don't know whether I've paid solely and kept the property out of arrears I'll be taken into consideration.
Published in Spouse or Partner
myself and my partner are seperating we have two small children so therefore I am going to remain living in the family home. My partner has a secured loan on our home but he is going to be moving out . We also have a an apartment that we rent out. My partner is going to remove his name from the family home mortgage and I am going to remove my name from the mortgage on the apartment. The apartment is in negative equity. My partner will not be able to afford the payments for the apartment plus bills and the loan and is considering declaring himself bankrupt.

Yourquestion:   What will happen to my home if my ex partner declares himself bankrupt?
Published in Property UK
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