trustee problem

[pennie100]

i have a problem with a trustee my wife is bankrupt and the trustee wants to sell the house i have no problem with this i also want the house sold as there is a fair sized equity in the house my problem is he wants to sell the house with vacant possesion his thoughts are we would put potential buyers off buying which is not the case we are willing to give the estate agent a set of keys and make sure no one is home at the viewing time i have explained to the trustee that i cannot afford to pay the mortgage payments of approx £700 and rent also until the house is sold he says not his problem and if the house is repossed by the mortgage people so be it if the property is sold as against being repossed the equity will pay off all the crediters but if its repossed by the bank it will fetch a lot less because of the banks charges and i suspect the crediters will not be paid in full i estimate the difference bewteen repossesion and sale could be as much as £60000 i have spoken to the bank and there attitude is if we reposess as long as cover our charges we are not worried about any body else

[powelll]

Is the Official Receiver the trustee or is it an insolvency practitioner?

[pennie100]

thanks for looking its a insolvency pracctitioner

[powelll]

OK. Are your debts in joint names or in your wife's name only? Because if she has been declared bankrupt then her debts will be effectively written off; it's then up to the trustee to go for assets which are saeable to pay something back to these creditors. Do you have any unsecured debts which are in either your name or joint names? Is the property in joint names? Do you know roughly how much equity there is?

 

You may find it more useful to speak to National Debtline on freephone 0808 808 4000 they are open til 9pm and it's free confidential impartial advice they may be able to cover this more quickly than we can ( I'm at work and no internet at home! )

 

Is

[pennie100]

the debts are in my wifes name after the mortgage is paid off the equity is aprox £180000 there are no debts in my name the debts in the bankruptcy are £43000