New to Wikivorce

Hi! I'm Suzie, and I am new to this site. I am 32 years old and mum of 3 wonderful girls aged 7, 4, and almost 2. Fifteen months ago I discovered my husband had been lying about a number of very serious issues on the business front. We had been living on the continent at the time. It was agreed that I would move back to the UK with the children, however I arrived home to find our house about to be repossessed as he had been lying also about paying the mortgage. I began divorce proceedings as I could not take any more lies. I am now paying the mortgage on the house, however a year ago I discovered he had been made bankrupt in 2005, and the house is now about to be taken from us for his bankruptcy. There is so much legal stuff going on that my head is constantly in a spin! We have not seen him for almost a year, and due to proceedings taking place due to his business dealings, he is prevented from having any contact with me. Things are extremely difficult right now, and it is difficult to see light at the end of the tunnel! I just have to remain strong for the sake of my three lovely girls.

Welcome to wiki. Sorry to hear about the situation that you're in, it can't be easy. Going through a divorce is difficult enough without all the money trouble. Anyway, this site is full of support. People quickly reply to questions in the forum and there's always support and some fun to be had in the chat rooms. I like many have started a blog which when you read back over it shows just how far you've come. If it wasn't for the people on this site I would have pulled all my hair out by now (if I had any).
Once again welcome. Now you've joined this site you'll never be alone. Friends are there some of the time. We're here the rest of it.
Take care and look after yourself and your girls.
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It is difficult to know what to say that would be helpful.

Do you know how much the total debt is and who is owned what?

I once helped somebody, who had approached me in connection with her divorce and whose husband had been declared bankrupt before she knew there was a financial problem. I got hold of the list of creditors and managed to negotiate a reduction in the total claims. It wasn't easy; some creditors were helpful and others wanted payment in full. The wife managed to remortgage and paid off the debts so that the bankruptcy was annulled.

You may find that some creditors have sold the debt to other companies, and therefore you will have to deal with the second company.

It may be worth talking to the Trustee in bankruptcy to find how much he or she is hoping to raise from the sale of the house. You may be able to negotiate on that and keep the house.

Obviously, I can't tell whether any of this is an option for you, but I do wish you good luck.

Thank you so much for your reply. What is puzzling me at the moment is whether or not if I find a means to purchase his share of the property from the Trustee in Bankruptcy, will my ex still have a claim on the property when it comes to the divorce settlement? It feels like a no win situation at the moment!

If you manage to go down this route, I think you would need to get a Separation Agreement in place at the same time as you pay off the debt/purchase the house. This document would separate your finances.

It would probably be better to divorce and have a Consent Order but this can take time to grind its way through the Court, and you might not have long enough to acquire the property from the Trustee.

The Separation Agreement, when signed, is a legally binding contract that would separate your finances. So it would set out who has what and, if the right clauses are in place, it would be very difficult for him to make further claims on the family assets. This is not to say it can't be challenged in Court, everything can, even a Consent Order, but it should be a pretty strong dicument.