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Application notice by third party creditor to join a divorce

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  • Application notice by third party creditor to join a divorce

    Hi,

    My ex-wife and I are in the Family Court on Monday 8th August. We agreed a FDR arrangement on 26th February whereby my creditors would be paid out of the equity of our house and she would keep the rest. The house is on the market for £1,595,000 and we have two parties interested but neither has yet made an offer. One of my business creditors is owed £300,000 and is getting interest at 4.5%. They have issued a D11 Application to the Family Court to join the divorce and have requested the price lowered to £1,400,000 for a quick sale, so they can get a quick sale and their money. There is a restriction on the register and the equitable charge contains a power of sale. They were unable at the time to register a legal charge because my ex and I hold the property as Tenants in Common in unequal shares with her having an additional £200,000 stake - this was agreed over ten years ago. My ex and I have submitted numerous witness statements defending the action because a lot of what has been argued - expert witnesses, etc. - is simply wrong. If they succeed my ex and children (18 & 17 - The latter has mental health issues) will not have enough equity money left to re-house near her work (Primary school teacher). We have now received an estimated costs order for £13,000 and apparently a QC is coming to represent the creditor.

    I am not getting anything out of this at all but don't want to see my family homeless. Can you please help as neither of us can afford legal representation and my ex is suicidal..

    Regards,
    Andrew
    Tags: None

  • #2
    Re: Application notice by third party creditor to join a divorce

    Wow. Sorry, I can't help but hopefully someone here can.

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