Ex Husbands bankrupcy.. advice please.?

Question

Hi. My husband left early this year. Before leaving he persuaded me to increase the morgage to pay off some loans thet were in his name only. He promised to pay the morgage for 5 years. He then said 2 years. Infact he never paid it at all. He has only given me basic child support as per CSA guidlines. And he has defaulted on that a couple of times. He now tells me he is likely to go bankrupt shortly. His name is on the morgage. The building society wont take his name off the morgage as they say i cant aford it... even though it is me alone who has paid it for the last 9 months. My question is what will happen to the house in the event of his bancrupcy? Who will be responsible for finding My young son and I a home? I cant aford to see a solicetor they charge too much. I have a new partner and he is willing to sell his house and buy this one. Is it likely the reciever and building society will give my partner time to sell his house? Thankyou.

Update:

There is very little equity in the hose....if they sold it at auction it would sell for less than the morgage outstanding. If it was sold in the normal way if we were lucky there would be £2000 left... which split between us would only raise £1000 for his creditors. It would be in the recievers/building societys best interest to let my new partner buy out my estranged husbands share. Also would i not be entitled to a greater share in view of the fact he hasnt contributed to the house for the last 9 months?

chris n · Accepted Answer

What a rotten swine.  He'll get his comeuppance eventually. You definitely need legal advice on this.  The other two answers say it all.  Maybe your new partner shouldn't get embroiled in this mess in case he ends up paying your ex husband's debts.  That wouldn't be fair.

fengirl2 · Answer

It seems as if the house will need to be sold to pay your husband's creditors. Although the building society might give you time to redeem the mortgage by selling your partners house, the other creditors may not -esp if HMRC are involved.
If you have a child under 16, the local authority has the obligation to house you.
I think you should go to your local CAB for advice.

apryl1121 · Answer

Tell the ex, you are selling the house, put it up for sale, for the exact amount owed to the bank. Sell it to your new partner. Your ex makes no profit, and the bankruptcy will not affect you.

dave · Answer

depending on your income you may be able to get legal aid go see your local citizens advice.they can help you with all your problems and also put ypu in touch with experts in various fields which may be able to help you.i would also suggest you do this now as the more time you have to sort out your problems the better

worldstiti · Answer

Talk to your creditors all of them let them know your situation and ask then to work with you they may prefer a longer and lower payoff than forcing you into bankruptcy - maybe a credit counseling service can help they are free and help in getting agreemnets with creditors

Yo it&#39;s Me · Answer

It looks like it will be your responsibility to find you and your son a place to live.

angie · Answer

most solicitors let you have the first half hour of advice for free, so get as much info as you can in that time, and go to  your local citizen advice bureau.

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Ex Husbands bankrupcy.. advice please.?

7 Answers