I have a property in Spain co-owned with my ex partner who has informed me of his upcoming bankruptcy. What happens to this property?

Made bankrupt in 2010 with a house. The property was included in the bankruptcy. This property had a sitting tenant. Paying rent which well covered the mortgage repayments.

Yourquestion:   I have since been trying to get a mortgage for a small property. The credit search I had came back showing a live mortgage. On digging a bit deeper it turns out that the previous property is still in my name. Can I claim this property back from the reciever. As I have been in touch with the mortgage lender,  they informed me it is not in arrears and as far as they are concerned the mortgage is up too date financially and they see no problem as long as I set up a direct debit from my bank.

I own my house and have never missed a mortgage payment. I would like to go bankrupt but don't want to lose my home. Is this possible?

We went bankrupt october 2009, discharged april 2010. We are home owners and were allowed to keep our property as we had young children and no equity in property, we did not include our property in the bankruptcy at time in 2009.

Yourquestion:   Is it too late for our property to be included in the bankruptcy as we are now finding it very hard with mortgage payments we have not missed any yet but no that we can no longer live the way we are because of the high interest rates, we would like to almost hand the property over to be included in the original debt but is it too late would we need to go bankrupt a second time to get rid of our property or what happens. Hope you can help. Kind regards.

I am considering going bankrupt and have a property in my name that I want to make sure my wife and kids can keep.  Is it OK to transfer the property to them and then go bankrupt?

I have been advised to go bankrupt and need to protect a property I have. I want to transfer the property to my family so it does not get taken in the bankruptcy.  The property is all I have for my family and worth a few so how do I do this?

I have maybe £23000 of credit card debt
I have a mortgage am up to date with the payments .
I am looking for a way to consolidate debts an get rid of credit cards
I have asked bank but because I have only paid mortgage for five years I guess theres not enough equity.


Yourquestion:   My question is it possible to go bankrupt but still keep house ?

 

 

Answer:  It is possible to go bankrupt and keep a property, but you would also need to show you can afford the property and the cost to live there is not out of line with the area you live in.  That and there is no equity in the property.

 

I hope this has answered your question.

For more information and assistance, please complete our eligibility form at our web site www.bankruptcy.org.uk or ring us at 0800 690 6855.

Regards,

Jon

My dad who has left us since I was a child  been made a bankrupt. The Official Receiver as Trustee is holding his assets now including a piece of land and a house. Apparently he couldn't be traced after all efforts to find him. The last time we learned he was in South Africa.

Yourquestion:   Can the Bankruptcy Office get a court order to sell my dad's house and land in UK without my dad's knowledge and presence, and use the proceeds of sale to pay the creditors? Thank you.

My husband and I have been married for about 14yrs - we went into a joint business partnership in 2005 (against my better judgement), we both worked there and to start with the business was successful - he then formed an unacceptable relationship with a female member of the staff, and it became increasingly more difficult for me to continue to work there (the business was a public house - so publicly humiliating too). I then started work in admin, with reasonable money and took a backward step from the business (stupidly I didn't  take my name off it until last year). I paid the mortgage and we lived seperate lives.  He moved out from our family home last year.  He is currently in financial difficulty and I am worried that if he goes bankrupt Myself and our daughter will lose our home.  I am also now a full time student - i do get a bursary and work part time so continue to pay the mortgage.  However, due to my now poor credit history (thanks to the joint business venture) I don't think the mortgage company will put the property into my name.  My partner is happy to sign everything over to me.  Also when we originally moved in my oarents gave us £20k towards the house and again stupidly we didn't get round to signing an agreement saying that the money was a loan to us.

Yourquestion:   How can I keep my home?  If my husband did go into bankrupsy - how would that affect my house?
I did think about trying to get my parents to buy the house and then me rent it off them for a couple of years until I am qualified, or maybe ask them to be guarantors on the mortgage if I could pusuade the mortgage company to transfer the equity to me.  But then if he went bankrupt - what would happen then?  I have got transfer of equity applications from last year ut we never got round to doing it - so it isn't being done underhandidly (if there is such a word).

I would be so grateful of any help or advice you could give please.

I have a house on mortgage that my elderly parents live in rent free. Will I be made to sell it if I apply for bankruptcy. There is little or no equity in it, many thanks