My husband has been made bankrupt

[cjudy]

My husband has been made bankrupt, is receiving a very generous pension from his company. We own our home as tennants in common. We are separated and I am living with my daughter. My husband lives in our family home. Can the bankruptcy trustee claim my half of the equity in the family home when it is sold? or is he only entitled to my husbands half of the equity? We have two children and my husband pays nothing towards them for maintenance.

[scaredkez]

the trustee only has a claim on your husbands share of the equity. not yours, is the house all paid for?
kerri

Please view my blog at: http://scaredkez.blogs.iva.co.uk/

[iva experts]

Hi cjudy,

Sorry to hear about your situation, as the debts are just soley in your husbands name I believe they can only touch his part of the equity and not yours. Is the house in both your names?

Best Regards,
IVA Experts
http://www.iva-experts.co.uk/

[Jo Rolland]

Hi

The trustee will require your husbands share of any property owned by him. If there is equity in the property that you jointly own the trustee will either require a payment from a third party, either yourself, a friend, family member etc of the equity. If this is not possible the trustee will sell your home. However if there is a partner and children living in the property this is normally put off for the first year in order for you to make alternative housing arrangements.



Jo Rolland
Debt Alternatives
www.debtalternatives.co.uk