Ex husband and bankruptcy

[Mollylegs]

Hi, sorry I know this is in the wrong place but I'm kind of hoping for a quick response. Try and put a little background. Split up with my ex husband 18 months ago, I am now taking over the house as in it should complete tomorrow. My son had said a few weeks ago that his dad said he was going to declare himself bankrupt and only hadn't so far as it would mess with the house sale. Ex husband is a high earner but apparently hasn't been working and is £10,000 in debt. I have no idea how much of this is true as he's obviously proved himself to be a lying sack of crap. Today I went into my solicitor to sign final forms before completion tomorrow,s he went through a list of things I had paid for one of them being bankruptcy insurance. I told her about my ex saying he had planned declaring himself bankrupt. She went off to ask the other solicitor(family law)that I have been dealing with and come back with don't worry it ok. I have come home and felt uneasy so I rang back my solicitor who proceeded to tell me that its a case of my ex could have pretended ro put the house in my name for some other reason. I'm now nervous that if he goes bankrupt myself and my son may lose our home that I've fought for. This whole last year has been terrible and my son has been extremely stressed out. We thought tomorrow was going to be a celebration and we would know we were safe in our home but now I feel very unsettled. Sorry this has been so long but if anyone could help I'd really appreciate it, Thankyou in advance.

I don't understand your issue. You're divorced and will complete on the house timorous.
Any subsequent financial issues rel to your ex are no longer linked to you.

Why would you lose your home?

(And surely assuming hes getting money from the sale he could pay off his debt. £10,000 isn't that much of he's a high earner. Bankruptcy seems like an odd thitg to do as it will mess up his life in so many way for years to come).

Hi @AllEars112232 it was the solicitor who spooked me by implying people lie about being separated. I assumed that now it was finalised tomorrow but now I'm a bit concerned. Thanks

I understand why you're worried as your head is all over the place but your own solicitor has told you, you don't need to worry so try your best to relax and enjoy your home with your son

@Arthurnewyorkcity Thank you, I think it's a build up of stress and the solicitor not sounding very convincing,

How much equity in the house and have you had the consent order signed off by a judge?
Your worry is if he goes bankrupt and it's seen as a transaction under value.

Hi there is about £150,000 equity in the house. I went in today to sign the consebt form so it hasn't been signed off and I'm not sure how quicjly that happens. The completion on the house is through tomorrow but I've no idea how quickly the consent order will be signed. So scared that we can lose our home.

Hi @RedHelenB would you mind explaining what you mean by transaction under value also is this something my solicitor should know? she said there was insurance for it but didn't seem very convinced.Thank you

He is assumed to own half the house. If there is £150000 in equity the trustees in bankruptcy would have expected you to pay him £75000 to have the house in your sole name Any less than this and its considered a transaction below value and can in theory be overturned. However, if there has been a court ordered settlement this would be less likely to succeed.