My husband has received a petition for bankruptcy unless he pays the amount of £3,873.39 in the next 21 days.My husband is not working at the moment as he is waiting for a hip replacement operation and has not worked for over 6 months now.We sold our property in February 2007 and i now own our 1 bedroom flat outright and it is solely in my name and i am the only one working part time with an average take home of £200.00 PW.
If my husband is made bankrupt can they take my property or wages? Also will they look at my husbands books as he is self employed but retiring this year as he is 65 in December.I own all assets and all my husband has is a 12 year old car and the tools of his trade to his name.We would really appreciate any advice you can give us as this is a big burden on us.Many thanks
Was the previous property jointly owned? If so when it was sold how was the money spent - The OR will investigage any transactions to see if your husband has disposed of an asset.
Hi redl If the jointly owned property sold in Feb 07 and the funds were used to purchase the flat outright, the OR would consider this as disposal of an asset. The reason for this is that your husband has in reality gifted half the flat to you. Why was the flat put in your name only? The OR will really think this has been done to put assets out of the reach of creditors.
Your husband is going BR, not you. As a result, the OR can only look at his assets. However, as Suzanne says, if the last property was in joint names, there will be a claim on your current property.
can they take my property or wages?
Posted - 04 July 2008 : 14:20:08
