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Husband owns home will it be an asset for me in DRO?

3 years ago - Posted by

Hi all. Opinions/advice needed. Have a situation where I am hoping to apply for a DRO. However, I live with my husband who owns our property (married when bought it). He supplied the deposit, pays the mortgage from his account and has paid for any work needed. It is in my husbands name as he had the deposit and me being on the mortgage meant we could not obtain one – Broker arranged this for us. We have a daughter together. I have had different views from NAD and Stepchange. NAD stated they would proceed with the application but could not as they were not taking on any applications due to a backlog. StepChange said they would not submit the application due to their being a beneficial interest to me even though I do not own it and therefore it would been as my asset. I have also received information from the Insolvency Service who were puzzled as to why I wasn’t on the mortgage (we wouldn’t have got one if I was) and stated it was up to each individual intermediary.

Does anyone have any experience of this?

Debt in my name only £7404. My husband and I have separate accounts. I pay majority of bills and he pays the mortgage and council tax.

Thank you in advance

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2 Answers

TAD Member

3 years ago

I am wondering what the outcome was please? I am in exactly the same situation. My husband has tried to help which has forced him into debt but he can manage his own.
I have done everything to sort my debts and step change say a debt relief order would have been best had I not been living in his property. We’ve contemplated splitting up as things are so unmanageable and it’s affecting my already poor mental health and our relationship. As far as i’my concerned this is his house and I have no rights, I had to sign a letter to that effect when he bought it

TAD Member

3 years ago

The Intermediary Guidance requires any beneficial interest in someone else’s property to be calculated as part of the process of assessing against the Debt Relief Order criteria, which state that property value must be less that £1000. It may be that you have to provide some proof to the approved intermediary that you have no beneficial interest in the property before they can submit the application.

This question was answered by Debt Advice Foundation, an independent UK debt advice charity. If you need further help, Debt Advice Foundation provides a free, confidential helpline and can advise you. Click here to find out more.

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