advise on houses and bankruptcy needed!

[sinister sheep]

I jointly own a house with the ex, and have started the ball rolling on bankruptcy, (thanks too him racking up some serious debt in my name and no proof its not jus mine)

he has delayed the process of buying me out the house for as long as i now can put up with, do i legally need too make him aware that i intend too go bankrupt?? as this could result in him loosing the house (not that i actually care any more)

this was the last resort as nothing else i have done has seemed too get me back in the black, and given he is laughing, living in the house and using the furniture that im struggling too pay for... and its a little less rash than sms idea!

any advice accepted

cheers

[KenONeill]

I can see why you feel like that about him (long story about my ex and her ex-hubby I'm neither prepared nor in a mood to share), but would advise thinking very carefully before starting bankrupcy proceedings. That is a very serious step to take, and will affect your life for years to come.

[sinister sheep]

I can see why you feel like that about him (long story about my ex and her ex-hubby I'm neither prepared nor in a mood to share), but would advise thinking very carefully before starting bankrupcy proceedings. That is a very serious step to take, and will affect your life for years to come.

I have looked into this in serious depth so i am prepared to wat is too come. but currently, i have no fixed address, and work purely too pay his debts! plus i have recently been issued a ccj, thanks too this all so already effected by this, and as im technically homeless, but 1/2 joinlty own a house the council will not rehome me and there is some thing about living between friends and families that sucks!! so although its hard finish too things its also the only way forward that i can see at the moment, and the answer that i put off for a very long time!!!

thanks for your advice.

[cheezemonkhai]

IMHO and only my opinion, send a letter to his known address special delivery and inform him that due to the current finance and you being unable to meet payments due to him not buying you out as agreed you intend to being proceedings to file for bankruptcy.

Make sure you date it and keep a receipt of him signing for the letter.

A reasonable period after that (14-28 days IMHO) start the proceedings.

It's not like he can then claim you didn't warn him.

If he has a solicitor dealing with the house or your divorce then send a copy to them too again special delivery. That will cost him the lawyers time and you have an independent witness that you took all reasonable steps to notify the ex.

This may or may not be true, but IIRC if you come together with a card in your own name then that debt remains yours.

Obviously as i said this is opinion and not advice or fact so if you have not already get an IFA to advise you on the best way forward for yourself.

It may cost you £50 but it could save you hundreds.

[sinister sheep]

IMHO and only my opinion, send a letter to his known address special delivery and inform him that due to the current finance and you being unable to meet payments due to him not buying you out as agreed you intend to being proceedings to file for bankruptcy.

Make sure you date it and keep a receipt of him signing for the letter.

A reasonable period after that (14-28 days IMHO) start the proceedings.

It's not like he can then claim you didn't warn him.

If he has a solicitor dealing with the house or your divorce then send a copy to them too again special delivery. That will cost him the lawyers time and you have an independent witness that you took all reasonable steps to notify the ex.

This may or may not be true, but IIRC if you come together with a card in your own name then that debt remains yours.

Obviously as i said this is opinion and not advice or fact so if you have not already get an IFA to advise you on the best way forward for yourself.

It may cost you £50 but it could save you hundreds.

Thank god, its only house, and no divorce!! i left him a yr ago, and for 7 months we have been battling it out via solicitors. 3 months ago he was given 28 days too finalise the break and settlement of the house from joint deeds etc to solely in his name.

my ifa and solicitor seem too have differed opionons too if i legall need to advise him or wait for the recievers too, as as i have been told he will loose the house if he should not be able to buy out my half via the bankruptcy rules and regs on this, all the advise i had on going bankrupt came from a company called the cccs (consumer credit councill service) who debt free directed me too when they refused an iva when i first had issues with debts from him, but due too joint ownership they refused help... :( so have only up too now been getting very rough advise...

your opion has helped some wat some again too you thanks.

[KenONeill]

Further thought on your other debts (meaning not the house). Have you been to the CAB yet? They're got with things like re-scheduling, reducing interest rates etc, oh and they're free!

[sinister sheep]

the cab, told me too contact the cccs, after i told them that was who i was dealing with, and then put me in touch with a solicitor that would give legal aid too find that they had been disbarred! left my confidence in them a little low. and even with out the house id have too work free for a yr & 1/2 to pay off the debts...... i blatently was an idiot and learnt the hard way!! to youg and too daft for the situation he helped me digg in too! if only we could turn back time!

[Experienced]

might I suggest this site, if you have not already visited;)

Debt Questions • Index page

Can I just say, AFTER you have taken proffesional advice, if you decide bankruptcy is the way forward for you, there is no need at all to let your ex know, just do it;)

[sinister sheep]

might I suggest this site, if you have not already visited;)

Debt Questions • Index page

Can I just say, AFTER you have taken proffesional advice, if you decide bankruptcy is the way forward for you, there is no need at all to let your ex know, just do it;)

I had not seen that site. when i find a few more spare mins tohave a proper look through as currently multi tsking. pc, food and getting ready for wrk.

I think it is the only way forward for me and my future... cause at the moment no one else has come up with any suggestions i can continue with (legally and cccs wise that is)

thank you

[Experienced]

You just need to make sure you look into bankruptcy very thoroughly, I have been there, it was the best decision I have ever made! it was stressful but now its all over and I am free!

[sinister sheep]

I know a few work mates and a family memeber that have got the t-shirt so been baddgering them for all the advise that i can... now they are sick of me and said they shall begin charging me lol!! and i seen the forms.... ouch i think writing my life story would take less paper im very lucky in the support of family and the best other 1/2 in the world sticking by me in what ever i decide i know how much harder this could be else.

[cheezemonkhai]

I was more thinking along the lines of it can't hurt to inform him and if you do the thought of him facing bankruptcy too or the loss of the house might **** him up enough to buy you out and save you having to go under.

If after a sensible period of time he has not done it then follow a course based on the professional advice you have had and your own thoughts.

[Loz]

Just do it, and if he loses the house then good! I would not stand for someone sponging my money off me. If I remember correctly from my 'Book of Doom' bankruptcy is far from the end of the world and can actually benefit you in that they take your possessions to pay off your debts (but don't take things you need desparately) then the rest gets written off! It only affects you for about a year then the slate is wiped clean. Some scumbags do it for a living. Ridiculous.

[KenONeill]

Just do it, and if he loses the house then good! I would not stand for someone sponging my money off me. If I remember correctly from my 'Book of Doom' bankruptcy is far from the end of the world and can actually benefit you in that they take your possessions to pay off your debts (but don't take things you need desparately) then the rest gets written off! It only affects you for about a year then the slate is wiped clean. Some scumbags do it for a living. Ridiculous.

My understanding was that it will affect your creditworthiness for the next several years afterwards.

[Experienced]

yes a bankruptcy will stay on your credit file for 6 years, but don't forget, once you start to default and fall behind on repayments on debt, your credit rating is shot anyway! I never want credit again, had no assets to lose so bankruptcy was the best thing I could do. Some professions do not accept bankrupts, so that aspect need looking into. Also the official receiver will look at your income and expenditure and if there is a surplus of over £100 per month, you will have to pay a percentage for 3 years. A person is normally bankrupt for 12 months but I got Early Discharge after 6 months as I had no assets and the case was simple

['daiking']

http://briskoda.net/forums/roadside-hotel/debt/108885/#post1261029

Whilst very sorry to hear of your woes can we remind everyone that it is against the forums rules to have multiple id's. If anyone wishes to offer advice and remain anonymous to the rest of the board please use pm.

Maybe I am paranoid, but I won't use this id apart from this thread:D

[sinister sheep]

Thanks all for the words of advise, I have in a round about way made him aware of the fact i intend too do this as we have mutal friends who i know would of told him... and given his 28 dys was up 3 months ago too finalise this... well im thinking its his fault big style. as for assets... they are all in the house along with the house. i have no property that i can call my own (unless they want my clothes, shoes and the rabbit or dog.. which dont add to much) so he stands too lose alotm i stand too loose the debt that is mostly his creation. and yeah my credit will be rather erm pants too say the least, but as experienced has commented thats already the case. my solicitor has been rather pants on all this and i feel like i have been paying purely for a no win situatuion.

so im now thinking surely this is a win win for me??

thanks agian every one

[dougie vrs]

Thank god, its only house, and no divorce!! i left him a yr ago, and for 7 months we have been battling it out via solicitors. 3 months ago he was given 28 days too finalise the break and settlement of the house from joint deeds etc to solely in his name.

my ifa and solicitor seem too have differed opionons too if i legall need to advise him or wait for the recievers too, as as i have been told he will loose the house if he should not be able to buy out my half via the bankruptcy rules and regs on this, all the advise i had on going bankrupt came from a company called the cccs (consumer credit councill service) who debt free directed me too when they refused an iva when i first had issues with debts from him, but due too joint ownership they refused help... :( so have only up too now been getting very rough advise...

your opion has helped some wat some again too you thanks.

this is good advice ,hopefully it will get him into gear and stop you from having to make yourself bankrupt ..good luck

[KenONeill]

Thanks all for the words of advise, I have in a round about way made him aware of the fact i intend too do this as we have mutal friends who i know would of told him... and given his 28 dys was up 3 months ago too finalise this... well im thinking its his fault big style. as for assets... they are all in the house along with the house. i have no property that i can call my own (unless they want my clothes, shoes and the rabbit or dog.. which dont add to much) so he stands too lose alotm i stand too loose the debt that is mostly his creation. and yeah my credit will be rather erm pants too say the least, but as experienced has commented thats already the case. my solicitor has been rather pants on all this and i feel like i have been paying purely for a no win situatuion.

so im now thinking surely this is a win win for me??

thanks agian every one

Unless you have an undeclared addiction to Prada, Jimmy Choo and real fur coats, you'd have effectively nothing that would be siezed then!

[sms]

I have kept patient through the whole lot of this and beleive me a baseball bat would give me so much satisfaction right now. The guy is a demanding power freak who thinks he can rule sinister even out side of a relationship. He was so for this in January and then once he came back with an estimate for the house well below the market price and we searched the net for similar houses down the road i think he realised he wasnt going to be pulling the wool over sinisters eyes for much longer (no pun intended). His true colours then became clear to both solicitors when he phoned up sinisters and gave her a verbal abuse attack onto the answer machine (another story).

Once sinister and ex agreed he was given 28 days to pay and went quiet, his solicitor has tried and tried and tried to get hold of him. Its annoying knowing that most of sinisters debts are tied up in one thing and that we could probably get this sorted quite easily if the ex just played ball.

I know he knows that sinister is going bankrupt as a lot of his friends are friends with her on facebook and a month ago she changed her status to going bankrupt. a few have told him and i beleive he has asked one of her friends if its true, but still no contact either from him or through his solicitor. the phrase including cake and eating it does spring to mind. I personally think sinister has been more than enough patient with him and its about time he either coughed up (on a low settlement which she has ended up having to do) or go bankrupt. Personally i think the right choice is being made as solicitors are not cheap and you have to add their fee to the equation as it soon mounts up (remembering how much it cost 10 years ago to fight for access to my daughter).

[cheezemonkhai]

I just thought... do you `own` half the house?

If so put up your share in the house for sale at less than market value and I'd think there may be some developers who see an opportunity. I mean if he doesn't own the whole house he pays rent on it yes?

If that covers your debts, well it's his own problem isn't it.

[jec]

Can I just add my tuppenceworth, if the house and mortgage and any other debts for that matter are in joint names, you are NOT just responsible for half, each of you is joint and severally liable for the WHOLE amount.

[cheezemonkhai]

Can I just add my tuppenceworth, if the house and mortgage and any other debts for that matter are in joint names, you are NOT just responsible for half, each of you is joint and severally liable for the WHOLE amount.

Bankrupt yourself and he becomes fully liable

[jec]

Yes, if only one person goes bankrupt, the other person will be pursued for the WHOLE debt!

[sinister sheep]

Unless you have an undeclared addiction to Prada, Jimmy Choo and real fur coats, you'd have effectively nothing that would be siezed then!

ohh i just checked me secret stash of desginer... lol no i have totally nothing like that... i think the most expenisve thing i own is me... lol and they cant have me!