Hopefully someone can help. In the last two years, I have had my business fail and my marriage break up. I have finally had to accept that I will become bankrupt, and I have a county court appointment in two weeks.
My problem is the house my, soon to be, exwife and I used to share. We have put the divorce petition into the courts this week. She lives in the house and I live in rented accomodation. We have circa £60k equity in the house, and we are discussing the equity split.
When all is said and done, I do not care for myself at all, all I care about is the home that my two small children live in. They are my absolute everything, and it pains me everyday that I don't live with them, but such is life.
I would like to do absolutely everything possible to prevent the sale of the house, as the house is their home. My eldest is registered disabled, and I would be devastated if he lost his home
The equity is circa £60k at most. We are talking about a split of more like 60/40 in my ex-wifes favour, I'm not being greedy and everything thus far is amicable.
My indebtedness is about £50k due to failed business etc.
How likely is it that they will try and force a house sale ? If the equity is 'say' 60/40, then my share would be £24k before liquidation costs etc.
Any help greatly appreciated, like I say, it's just my two little boys that I care about. I don't care if I have to live in my car ! As long as my boys have their home
My county court appointment for bankruptcy is in two weeks.
Many thanks in advance.