i have debts of over £45k. I may have to file for bankruptcy due to loosing my high paid job. I have just received a low paid fulltime job earning £240 per week. In January 2007 (2 1/2 yeasrs ago my wife and i were going to divorce and i signed our house into her name as she made most of the payments to it anyway. Is there any way i can stop either bankruptcy or my wife losing her home
Hi there and welcome to the forum with regard to your question on your former matrimonial home - the OR's decsion will all depend on whetheror noth this was a legal transfer ie as part of the divorce settlment in court - if so and your interest in the property was passed to your wife on the divorce the OR would have no interest in the property provided you could provided documentation to proove this was an 'above board' transaction. If however it was a personal arrangement between you andyour former wife you may have to provide a full eplanation as to value of the property at that time, outstanding mortgage etc so that the OR can see whether or not you handed your wife any available equity.
Hope this helps
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles email me at melanienicholas@jonesgiles.co.uk
i have debts of over £45k.
Posted - 24 August 2009 : 12:34:55
