I have a company trying to declare my husband bankrupt. They have not communicated with him since he made a bulk payment. He was owing £7k and made a payment of £4k. He advised that he is happy to set up a payment plan to catch up on the £3k but this was ignored. They rushed to get their asset back (van), and a recovery agent was instructed to communicate with him. The way the matter was communicated to him was that once they have the asset the matter is resolved. He did make it clear that he would like to keep the asset, and happy to catch up on overdue monies. This was all ignored. Now they have a petition of bankruptcy against him and we are now talking with a solicitor due to needing legal representation as he does not wish to be made bankrupt and there is a court date.
my concern is would we lose our house over £25k debt due to all the charges and fees the company have tallied up. We have 2 young kids (primary) and I work part time and I am a part time student. So my husband is the sole provider. Would a judge make us homeless? Any advice, insight or experience stories are welcome. I have no idea how the world of bankruptcies work and wanted advice from anyone who can point me in the right direction. Thank you