Hi ejs and welcome to the forum
This creditor are serious about making you bankrupt and probably will, which will result in the ultimate loss of your property in the event that you do not have anyone who could acquire your beneficial interest - ie a benefactor who could buy out the £60k equity.
One option for you would be to propose IVAs to your creditor now based upon a voluntary house sale. I have done this many times in my career, and you could ask to retain a suitable sum of money to meet the costs of removal expenses and a future rental deposit of say six months.
You would not be able to repay all of the debt, but creditors would agree to write off any balance and you could have up to 12 months to sell and relocate. In the meantime all of the stress would be relieved by appointing a qualified professional to act for you, allowing you time to consider a debt free future.
A difficult decision, when faced with selling the family home, but one which is going to be out of even your hands soon if this creditors succeeds in making you bankrupt.
Regards, Melanie Giles, Insolvency Practitioner for over 20 years.
To have me propose an IVA for you, please visit:
http://www.melaniegiles.com/ivaEnquiry.asp
See customer feedback at:
http://www.iva.com/iva_companies/IVA_Advice_Bureau.asp