My husband has been bankcrupt since last year. Separated since 2001, two children 6 and 9. I filed for divorce in jan this year,couldnt take any more of his irresponsibilities) the trustees want to get a court order to sell the house. His debt is 17.000. Shall I pay for his debts to keep the house and what would happend in divorce or how could I get this money back.
You need to get yourself at the front of the Queue for the money in the house.
If you havent already...begin Ancillary Relief proceedings. This is staking your claim to the marital assets.
Then apply to have a charge put on the house.
Then try and agree a deal with your ex for a financial settlement. Get a Consent Order drawn up.
And basically get the court to award you the house.
Then once the court has awarded you the house the trustees will not be able to get their hands on the 17k. (This is an area of law that has been debated in courts last year...i.e. who has priority, ex-wife or trustees...last case that was fought the ex-wife won).
try national debtline it has a website and telephone helpline
this is a charity set up by govt to help people with debt problems they will help you in relaiton to what you should do to protect your right to your home
they have advice online re bankruptcy and divorce etc
good luck www.nationaldebtline.co.uk
my situation is i am in the house with 9 year old i am 56k in debt all in my name it incl loan for his sports car.house is in neg equity i have to go bankruptin two weeks time concern is where will we live ie can we stay put somehow.redemption penalty until end march 2010 once thats gone may be tiny bit or no equity no money for fees to sell etc at the moment house is 289k outstanding plus 15k penalty anyone any ideas how to move forward without cracking up e doing ok in love nest with rich female boss.he has no interest in our position.