Issues and questions that come up during your bankruptcy period

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#62357 I am starting to get stuffy letters from the Halifax about my house now. Just to recap, I am living in a rented place now following my seperation from my wife last August. I continued to pay the mortgage and a secured loan on it until I went BR 20.03.06, since when I have ceased to make any payments. The OR has been unresponsive to my requests about what will happen but in the last conversation I had with them they said I should simply tell the Halifax that I can't pay and that they (the OR) are dealing with all matters to do with the house. I have explained this in writing and on the phone to the Halifax but they say that I have to get the OR to contact them directly...if not I will continue to be charged fees and penalties. What can or should I be doing about this anyone??

Also with regards to the house, my wife now seems to be suggesting that she will be able to raise funds from a third party to 'buy out' the equity, something which the OR suggests is a good idea in their literature. How does this work? I still can't pay the mortgage and secured loan payments - nor will I. Will I be liable for anything? Does this 'buying-out' procedure mean that she has to take over the mortgage and the secured loan or what? I just dont know how it will work.

I have no pbjections to her retaining the house as long as I am not left liable for anything. She is the main reason I am in this situation now. My BR means that the sale of the house would be forced by the OR anyway.

BTW, the house is currently in my name only - NOT joint mortgage. I also think that her line of reckoning is that she will not have to have anything to do with the secured loan - this will still be my problem. I can't see how this could be the case. HELP!!!

Any suggestions will help - thanks.
#62360 Sorry no suggestions but just wanted to say the halifax must be the worst in the world :-(

They pay their staff HUGE bonus's every year cos they fleece so much from those that bank or have a mortgage with them!
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#62366 Rob

When they tll you that the OR hasnt been in contact with them, just point out that he HAS and that they seem to have ignored him!!

That should get them thinking, as this is NOT the first time the Halifax have demanded that you should do their work, they have been contacted and no doubt are trying the pressure game that you had before bankruptcy off all the other creditors!

I'm not sure what will happen about the secured, but I should imagin if the Ex bus the property form you then the money has to go to the OR, and the secured loan then becomes unsecured. WHich is why they are trying to be clever with you!

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#62371 Everything is contractual operative before the BR so you are never going to be liable for the debts unless you subsequently agree to be (DON'T). Sadly some lenders have to have this force fed to them.

Some banks/secured lenders have been known to get bankrupts to re-acknowledge the debt afterwards - whilst this is likely to be necessary if you are buying abck your interest this is a non-runner if you're not there. Be wary of getting into too much correspondence with the lenders.

If it was solely owned both the title and the BI are now the OR's and you can wash your hands completely, unless you have any maintainance for your ex.

If your ex wants to buy you out she'll have to purchase the property for market value (unless she's claiming a BI) and the OR will settle the charges, or she buys it subject to the charges. Either way it's a matter between her and the OR (and the chargeholders).

I'd just keep saying to the lenders a) I'm bankrupt; b) I don't live there anymore c) the legal title and beneficial interest are now vested in the OR; d) they've written to you already e) I'm not involved with the property any more so please deal with the OR.
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#62403 Thanks for your replies.

I am much more happy with things now.

Ransid, my wife has lodged a matrimonial interest in the property with the land registry. Does that mean she will be entitled to any of the equity? I will be extremely pi@@ed off if she rides out of town with even more of my hard earned money whilst I go through BR. I put the deposit down on the house and made ALL the payments during our time together and for 8 months after. Part of my BR debt is for a loan of £8k on her behalf to help her failing business (now failed completely). I was not asked about this loan by the OR so did not mention it to them. Maybe I should have.

I assume that the OR's BI over rides her matrimonial BI? Also what is the connection with maintenance for my ex please?

I am trying to get on with life after BR. Divorce is going through, access to our son is being hard fought, my new partner has a serious illness. Gosh I didn't realise that my shoulders were so broad. LOL.

Like my sis said in one of her recent posts "I am not bitter" - well maybe a touch!!!
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