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Slimboy
Starting Member
1 Posts |
 Posted - 20 November 2008 : 19:12:00
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| Finally the hmrc seem to be moving towards petitioning for my bankruptcy. Are there any advantages to me petitioning myself? The family home is in my wife's name |
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Needafriend
Junior Member
United Kingdom
344 Posts |
Posted - 20 November 2008 : 20:44:59
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Hi Slimboy & Welcome
Basically, yes you are in control and can get things sorted with assets etc.
If you have other assets like cars etc then these could be put at risk.
It is i think better if you can do the BR yourself, it gives you the control that you need and allows i think some dignity and a way of planning ahead.
Thats my opinion only mind.
Jo
x
For more info on how i have come through bankruptcy and for links to help, you can read my blog here called:
Jo's Links and added info on Bankruptcy!
http://debtfreejo.blogs.bankruptcyhelp.org.uk/
Needafriend says: Live life to the full, take it by the horns and live a little, otherwise life would be so boring!
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 20 November 2008 : 21:08:53
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I agree with Jo. I was originally in an IVA and when that failed I decided to make myself BR rather than waiting for one of my creditors to do it. This meant that I could do it at a time that was convenient to me and there were no nasty surprises! It also meant there was no waiting, along with the nasty phone calls.
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
View my blog at http://skippy13.blogs.bankruptcyhelp.org.uk/ |
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John
New Member
United Kingdom
73 Posts |
Posted - 20 November 2008 : 22:44:58
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Hi
the fact that your family home is in your wife's name does not, I'm afraid mean that it is safe in the event of your bankruptcy.
If you are the main breadwinner or indeed make any significant contribution to the monthly household expenditure it can be argued that you have a proprietary interest in the property. Using equitable accounting and under the rules of equity of exoneration the name(s) on the mortgage and or deeds do not necessarily equal ownership.
If there is equity in the property I would take professional advice and quickly. If the HMRC are, as you say, decided on your bankruptcy they don't hang around.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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Reviva UK
Advanced Member
United Kingdom
2452 Posts |
Posted - 20 November 2008 : 23:01:13
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I would agree with John
the insolvency service - and therefore trustees - are starting to succesfully argue that if you have made significant contributions to the house then you would be entitled to a share - as in a divorce.
suggest you call the helpline and speak directly to john.
Paul Johns
Assisted Bankruptcy Specialists
Reviva UK
For a Free Impartial Review before taking the leap call me @ Reviva UK
www.revivauk.com |
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Finally the hmrc seem to be moving
