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UK Bankruptcy Law

Hi, Dont know if you can help Im talking with the Citezens

Customer Question
Hi, Don't know if you can...
Hi,
Don't know if you can help

I'm talking with the Citezens advice centre about going Banrupt or into a debt recovery order. The problem is my debts are under the 15K threashold however I got divorced 5 years ago and im still on the mortgage of the former matrimonial home I do not pay or have not paid the mortgage since the divorce. The divorce stated she will indemnify me and I have signed over my benificial interest in the home it has a 160K mortgage and has a vale of £300K

As stated she has to get best endevours to get me off the mortgage but she can't as they wont allow her to be on the mortage on her own

The CAB say I have to go into full bancruptcy and declare the mortgage however I'm sure that I don't have to as I have no intrest in the house and even if she stoped paying the mortgage there is sufficient equity for the mortgage company to not have to call on me. I think I should be able to go for a Debt recovery order

Any advice?

Simon
Submitted: 4 years ago.Category: UK Bankruptcy Law
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1/31/2013
Solicitor: UK-Justice, Barrister replied 4 years ago
UK-Justice
UK-Justice, Barrister
Category: UK Bankruptcy Law
Satisfied Customers: 16,193
Experience: Called to the Bar in 2007
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Solicitor: UK-Justice, Barrister replied 4 years ago
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Category: UK Bankruptcy Law
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Experience: Called to the Bar in 2007

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