bankruptcy advice??

[inovermyhead2]

Thanks so much Joe

So would the "certificate of sequestration" mean I can apply myself even tho I jointly own a house? And what difference would this be to being aparently insolvent?

There is still little or no equity in the house and my ex is still having trouble buying me out even tho he has saved for a deposit. Things can be strained between us as he thinks the accountant in bankruptcy will try and do him out of money by maybe saying the house is worth more than it is therefore meaning he will have to give them more money which will ultimately mean less for me and my kids as he said he will be taking it out of my maintenance. Do you know how the AIB works out the value of a property in these cases?

 

Much appreciated

x

[Joemcm35]

Sorry for delay in replying as just back from a short holiday.

 

Yes a Certificate for Sequestration can be granted to a home owner.

 

As far as being able to apply for bankruptcy - either a Certificate for Sequestration or being apparent insolvent is the qualifying criteria. The application fee for applying for bankruptcy is still £100.

 

The AiB obtains a current market valuation of the property from a surveyor.

 

As far as maintenance is concerned, the Child Maintenance & Enforcement Commission sets the standards for child maintenance when there is no agreement between estranged parents, refer to the following link:

Child Maintenance and Enforcement Commission - managing child support

 

Best wishes.

[inovermyhead2]

Thanks to everyone for your advice. Thing may hopefully getting somewhere very soon.

My ex has been in contact with a financial adviser who has contacted our mortgage lender requesting that my name be removed as it is having a negative effect on my ex's credit rating and as we are no longer together, he considers this unfair. Is this true? I am now attending a joint interview at the bank with my ex next week regarding this, should I say I am expected to be made bankrupt?

Also as one of my creditors has got their decree against me so Im now worried they will put an inhibition order on my old house therefore meaning even tho I dont live there I cant sell it (even at a loss). Do they have to apply to court again for this and would I be notified?

Where the hell would I go from there? As I understand it this means if I do sell the house any equity received must pay my debt to them, but my debt to them is more than I could dream of getting from the house and as it stands it will be nothing as its worth what is owed??

 

Thanks in advance

[IdaInFife]

They will not just remove you from a mortgage - your ex would be invited to reapply for a mortgage in their own name to replace the existing one and you would be asked for written confirmation for this.

 

You and your ex are financially connected whilst you have a joint mortgage and or any other loans/accounts etc

 

no they can apply for an inhibition without returning to court becasue a decree has alread been granted

[inovermyhead2]

Thanks Ida. I really didnt beleive it could be so easy.

 

With regards to the new thing coming in in oct for homeowners, think its called a certificate of sequestration. Once my ex has negotiated a figuire with the AIB would that mean my name would then be removed from the mortgage?