Normally a property doesn't require to be sold to release the equity, the equity can be released by way of remortgage, with today's climate it's becoming more usual to continue with 12 more monthly payments in lieu of the remortgage but who knows what the future holds in the mortgage area.
Not sure how the equity is affected when the names of the debts are in your name and the mortgage in your wife's name, one of our professionals will be along very soon to advise concisely. x
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
i thought somebody must know the answer to a simple question like this.
if the assets are in my wifes name and the debts are all in my name can anyone put a claim on the assets in my wifes name ???????
perhaps if you were working and getting debt, then creditors may ask if she has benefitted from their credit to you and ask how she funded the assets. It may look a little planned if she has all the assets and you have all the liabilities!!
ok seems like best thing to do is sell property and move into rented accomadation.
the bigger fool you are the more you get away with .
while these idle bankers are still recieving their million pound bonus
ill make sure i get my little bonus