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Helen.10
Starting Member
2 Posts |
 Posted - 21 July 2011 : 22:20:02
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this one is for john if possible!husb is thinking of bankruptcy as in £50grand debts. our mortgage is £93 grand getting an estate agent out tomorrow - think house prob worth 130 grand. i not on mortgage, don't work, but we have 5 children i have brought up. would i have beneficial interest?
also my sister has offereed to buy beneficial interest for us, could we deal with that immediately, rather than waiting to be repossessed? and not knowing if we were to become homeless
thanx helen
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Blackie
forum expert
United Kingdom
565 Posts |
Posted - 22 July 2011 : 08:12:24
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Hiya Helen.10
I don't believe that John posts on this forum anymore, however I may be wrong but let me try and help you.
It is unlikely that, in this context, you will have no beneficial interest in the property if you are not on the mortgage and therefore not paying the mortgage. However having said that, there may be circumstances where you could have a beneficial interest. You may be on the Deeds of the house as joint owner or made a substantial contribution towards the mortgage.
I think that if your sister approached the Official Receiver to buy your husband's interest, she would have her hand bitten off. This would save him a lot of time and expense and would totally reduce any chance, albeit very small, of you becoming homeless.
All the best
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
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Helen.10
Starting Member
2 Posts |
Posted - 22 July 2011 : 10:17:01
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hi blackie, thanx for your quick response. sounds as tho we are very likely to lose our house?
i am not on the deeds and all my income has went into the outgoings of the family, tho not directly to the mortgage payments. could i be pt on deeds now or would this be seen as defrauding? think so....
what did you mean by ....albeit very small... do you mean small chance of being made homeless, or small chance of not being made homeless?
any body tried selling property to a rent to buy?
anyone used bankruptcy asst service from this site?
or to the council, and if so could we eventually buy our house back
this is a terrible situation. i had to give work up due to anxiety and depression brought on byfinancial troubles. husb has iva at mo payin £400 a onth, but reviewing it at mo andd before debts we only have £30 per month spare income - iva taken out last year when i earned£500 per month and got maintainance from ex of £430, no £29 as he took voulntary redundancy and will not be working again.
sorry to moan, just soooo stressed out.
thanx for your help blackie
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this one is for john if possible!
