bankruptcy

[janet2206]

Hi there i was declared bankrupt in july 2012 for none payment of council tax, to the amount of about £5,000.00, I have been suffering with depression for a number of years and I just ignored everything, I now have been evicited from my house, I hid all of this from my husband, we have a mortgage in joint name and now they are forcing us to sell our property, can they do this? We have around £120,000.00 worth of equity in our house. I am now able to pay off part of the debt, will I be able to get my home back, my son is 17 years old and recently diagnosed with diabetes, my husband is out of the country and I dont know what to do please help

[janet2206]

Re: bankruptcy

is there anybody that can help

[meellis]

Re: bankruptcy

Well you have made a good start by admitting you need to do something. Have you tried any of the citizens advice or shelter for assistance? Was it just you who was bankrupt or your husband too, you say the mortgage is in both of your names but was the council tax as well? What stage is the eviction process at so that people can gauge what you can do, mortgage companies will do what they can to stop taking your home as long as you can convince them you can make good. Just as important though if your husband is away have you got anybody near who can help and listen, give you the support you need, a trouble shared really is halved and keeping it to yourself will slow you down with dealing with it.

[wales01man]

Re: bankruptcy

Don't dig the hole you are in any deeper tell your husband and get some advice from Shelter or a Solicitor.

[janet2206]

Re: bankruptcy

the bankruptcy is is mine, but the mortgage is in both our names, the council tax was just in my name, i am at my witts end and feel so low its all a mess

[janet2206]

Re: bankruptcy

i have told him but he is out of the county till Thursday and i am so messed up there is more to all of this

[Amethyst]

Re: bankruptcy

Definitely call Shelter in the morning. Getting you and your son housed is priority.

Where are you at in the eviction process? Have you just received a letter?
How long has your husband been away for?
You say you were made bankrupt in July 2012 - have you sought any advice since then?
You might be best starting from the beginning and telling us everything that has happened to get you to this position - then we can help you get things straight and prioritise what you need to do.

[TUTTSI]

Re: bankruptcy

Also who is the mortgage with?

You say you have been evicted, have you actually left your home yet?

How much do you owe the mortgage company on arrears and how does that equate to months outstanding?

How much are you able to repay if you could keep your home?

Can your husband help financially in any way?

[FlamingParrot]

Re: bankruptcy

Hi there i was declared bankrupt in july 2012 for none payment of council tax, to the amount of about £5,000.00, I have been suffering with depression for a number of years and I just ignored everything, I now have been evicited from my house, I hid all of this from my husband, we have a mortgage in joint name and now they are forcing us to sell our property, can they do this? We have around £120,000.00 worth of equity in our house. I am now able to pay off part of the debt, will I be able to get my home back, my son is 17 years old and recently diagnosed with diabetes, my husband is out of the country and I dont know what to do please help

You say *they* (presumably you are referring to the Official Receiver) are forcing you to sell, you also say you have ALREADY been evicted. Why were you evicted? Was it because you were in arrears with your mortgage?

With a jointly owned property, the official receiver is only entitled to your share of the property, usually assumed to be 50% of the equity. Your husband or other family members or friends can make an offer to the official receiver to buy out your share of the equity.

[Amethyst]

Re: bankruptcy

Just for reference Janet had a thread on here back in 2010 regarding Bailiffs collecting on Council Tax arrears http://www.legalbeagles.info/forums/...083#post152083

[Laurieloo2]

Re: bankruptcy

Hi there i was declared bankrupt in july 2012 for none payment of council tax, to the amount of about £5,000.00, I have been suffering with depression for a number of years and I just ignored everything, I now have been evicited from my house, I hid all of this from my husband, we have a mortgage in joint name and now they are forcing us to sell our property, can they do this? We have around £120,000.00 worth of equity in our house. I am now able to pay off part of the debt, will I be able to get my home back, my son is 17 years old and recently diagnosed with diabetes, my husband is out of the country and I dont know what to do please help

Have you actually been evicted yet or is it just a letter to say this is what will happen?? Is "they" the official Receiver?? If the council tax debt was in your name and you are the only person bankrupt then I believe its only your share in the house that can be enforced to be sold and but to be honest its a lot to enforce for £5000 worth of debt. Could you not apply to mortgage company to release some of the equity in your home to repay the debt?? Perhaps there is still a way to sort out repaying the debt without enforcing the sale of your home??? I would suggest contacting the court or official receiver (whoever is enforcing eviction and sale) and asking if you part paid the debt would it stop the enforced sale/eviction?

If your financial problems are a burden on you maybe you should consider selling your home to one of them companies that you can rent it back off of?? I dont know any specific names but I do know that you can sell your home but remain living in it for a fixed time or indefinately depending on what the company offer, this would give you the security of still having your home and free up your finances?? Maybe its an avenue you should consider?

I am a discharged bankrupt and it would of been something I would of considered but my house was in negative equity. I know its easier said then done but try to put perspective on it. I have been through the same things you are going through and honestly its just money and material things, what matters are your family and your health. Dont let the stress of bankruptcy effect your family and health because one day the financial problems will be over and you will look back and wonder why you had all those sleepless nights!
There are people who can help - shelter and your local council would be the first point of call. The council should have a homelessness officer who (worst case scenerio) will talk to you about emergency accomodation should you be evicted and your rights to housing. Rentals are worth looking at just in case and again council can help. If you are on benefits you can get budgeting loans to help with fees for renting and deposits etc. Citizens Advice Bureau is also a good place for advice. If you have questions about bankruptcy facts ask the Insolvency Service or your appointed official receiver. National Debt Helpline are someone I used when I was considering bankruptcy.

There will be a way out of all this, mortgage companies/ courts do not like to enforce sales and evictions as it costs money which if you are on a low income or no income and are currently bankrupt then the are costs they may never recoup! My official receiver was very helpful for me and the insolvency service. I would recommen CAB for you though as you seem overwhelmed with it all, understandably, they will have a good all round knowledge of debts, bankruptcy and housing issues. Good luck, let us know how your getting on. Please dont let the fact that your bankrupt and having these financial difficulties swallow u up, I know its cliche but there is light at the end of the tunnel x

[wales01man]

Re: bankruptcy

Its doubtful a Mortgage company will offer a Bankrupt a remortgage so they can get 5k to pay debts?

[meellis]

Re: bankruptcy

When I was made bankrupt the receiver was pushing me to re-mortgage just so I had some money that they could plunder for my parents share of the equity. I made them aware that going to companies that might offer me a mortgage had put me in the position I am in (second charge with Swift Advances). The whole debt situation needs looking into properly but it never will, I came to the conclusion that the legal and credit departments are in a rush to justify there existence and push to find an end by making people bankrupt. Because they can write so much off they probably can justify it financially, if a study was done most of the enlarged legal costs would be the percentage that was wrote off anyway. As for selling the property for you to rent back do you not consider that the companies that offer this aren't taking advantage of the situation you are in and going to offer a deal that is better to them than it is to you. I might be getting cynical in my advancing years but this country is based around spin now, because they know that when we get something in our heads we believe it, and a lot of the large companies probably do just as well out of people defaulting as they do from the people making the payments. Because of this spin we now have a majority of people, who have never been in debt, believing debtors have brought it all upon themselves. Because of this spin we have a lot of people also believing that everyone on benefits are low life scroungers, and now we are being force fed that everybody on disability allowance are perfectly able and claiming for help they don't need. I am non-political so even though I know some of this is pushed by the Tories I know they are all as bad as each other.