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andre
Starting Member
3 Posts |
 Posted - 17 November 2009 : 07:43:14
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| Hi all the posting I read normally refer to joint-ownership, however the mortgage is in my name and my wife and I have lived in our home for 18 years (30 years marriage) does this mean that she has no equity stake in the house. I have reduced my debt following a fialed business from 140,000 to 35,000 in the last 5 years , however I have just lost my job and my creditors are not prepared it seems to re-negotiate the monthly payments I previously made, so I am concidering going bankrupt. I guess we have about 60 - 70k equity left, mortgage payments are up to date, would my wife have a claim for half of the equity? |
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debtinfo
forum expert
2826 Posts |
Posted - 17 November 2009 : 08:15:57
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| does your wife work, has she made any contributions to the mortgage |
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andre
Starting Member
3 Posts |
Posted - 17 November 2009 : 08:22:00
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She used to work up until a few months ago, she also lost her job and we have always pooled our money. So in short yes.
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chester2005
Average Member
United Kingdom
786 Posts |
Posted - 17 November 2009 : 09:32:15
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if you divorced would she be entitled to half the house? the likely answer being yes, therefore she should be sble to claim a beneficial interest of 50% of the property
Dave
Don't worry or know that worrying is as effective as trying to solve an algebra equation by chewing bubble gum.(Baz Lurman)
RevivaUK helped me through it all i can't recommend them enough!! |
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 17 November 2009 : 10:47:05
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Hi Andre
welcome to the forum
I am impressed with your efforts to repay back creditors 105 K in 5 yrs well done.
I do not know your whole scenario and it is not mine to pry but from your posting are you sure that BR is the right route ? their are other options !
can i suggest speak to Mel or Paul the site experts
regards Richard |
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andre
Starting Member
3 Posts |
Posted - 17 November 2009 : 11:01:33
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Thanks for the positive affirmation. It would be nice to feel that you are more than a number on a database, discussing my change in circumstances with my creditor seems to fall on deaf ears, irrespective of my efforts of the last 5 years they basically don't care. They only know how to squeeze. Many people I am sure imagine they are talking to a be-suited professional, unknowingly they are discussing their inner most vulnerabilities with a 19 year old, iPod touting, gum chewing, target focused... "you shouldn't have got into debt in the first place... scumbag" attitude. In the end you just get tired... and I am tired. On a brighter note, this mornings headache has gone :) and I am feeling rather positive with life. As they say, "it's good to talk." ... ah BT, better pay it!
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 17 November 2009 : 11:06:23
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hi andre i like the description but you forgot the spots and attitude
some of them probably never had parking ticket, but bless them
when we eventually got our situation lined up with a direction it was like a tonne of bricks had been lifted. sleep became whole nights again !
keep looking for the positives
Richard |
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I am concidering going bankrupt
