Hello gillianr2,

I don't think that there is any issue with applying for LILA sequestration in these circumstances.

However didn't you mention in a previous thread on the forum that you are a homeowner at the moment?

Hi,
Thanks for the reply, my husband is a homeowner. The mortgage is solely in his name. I was worried about the car though as he sold his last Nov and bought a different one the following day, we registered it in my name though as I was going to be using it the most, not relaising the implications of that. I called the AIB and they said that as long as I could show receipts that I am not the owner then it should be still ok to apply for LILA (the car is worth 1900). I am still worried about that though. I had an appointment for CAB today but the woman was a no show so wont get seen until next Mon now, was going to call for the LILA application form anyway so I have it ready incase I can apply.

Hi gillianr2,

Being the holder of the mortgage doesn't necessarily make you the owner of a property. Are there any reasons why it might be perceived that you are a joint owner of it?

I don't know to be honest. The house was bought by husband under a northern rock mortgage which he still has. I live with him and we have 2 children. The house is in negative equity by about 8k. Surely it wouldn't be seen as mine would it? What about the car?

Were you married and together when the property was purchased?

Sorry...I'm not trying to alarm you. I think it's best just to be sure about the position.

No problem, we weren't married when he bought the house but we were together and I moved in about 6mths after he purchased it.

I think all that matters is whose name is on the title deeds...

In terms of the car, as the AIB said, if you can show that you are not the owner then there shouldn't be any problem.

You can download the application form from the Accountant in Bankruptcy's website gillianr2 - though may be wise to wait until you have chatted through your options with the money adviser before you send it away.

Thanks that's great. I'm a bit confused though as on the application form I see it asks do you have any asset worth more than ?ú1000. How should I answer that? There is just a tick box for yes or no. My name is the registered owner but it's my husbands car so do I tick yes or no incase they check the dvla and see my name is the registered owner and think im lying if I tick no iykwim?

Hi gillianr2,

I think you will be the registered "keeper" rather than "owner" on the documentation?

Being a "keeper" does not make you the owner.

oh right I see, yeah I just checked the V5 an d I am the registered keeper on it. Does that mean it's ok to tick no then on the any single assets worth more than ?ú1000?

Well if it isn't your asset I see no reason for it to be on the form gillianr2.

If might be worth digging out the documentation demonstrating that your husband is the purchaser in case you need to show it later.

Presumably your husband's Trustee is aware of this asset of his already as well?

Just called the AIB I have just to send in the receipt from the sale of his last car and receipt for this car to show he was paying for it not me as they will search the dvla and it will save time for me to send it with the app form. Yes his trustee knows that the car is his, I am paying the contribution on his trust deed for the equity in the car! It's all such a mess.

I would think the fact that the car is being dealt with by your husbands Trustee already makes this fairly clear-cut.

Good luck with the LILA process. I'm sure a good number of readers of the site would be interested to hear how the whole process works and develops for you.

Just a little update on this. I received all the forms in and got them sent off on Friday past along with my bank statements to show the money from the sale of the old car coming in and going out on the new car along with the sale document in my husbands name. Hopefully this will be enough for the aib to go on. Feeling very stressy at the moment as even though I haven't made any payments to my creditors for almost 2mths we are still very skint!

My husband also has a trust deed which normally costs ?ú320 per month (between us) but they agreed to lower the payments to ?ú150 per month for now until everything is sorted out but we still haven't been able to afford that either as we have in the last 2mths had the car breakdown and cost over ?ú700 to fix, washing machine needed to be replaced at ?ú299 and our heating has just broke down and we have been quoted ?ú180 to fix (that's parts only as a friend is a plumber and would fix for us) which we just don't have at the moment. On top of all that my benefits have been cut from ?ú96 per week to ?ú64 per week and Xmas is only 8wks away and we have nothing at all put away for it and can't see how we will even manage token gifts. I have also found out that I am expecting twins next year so we will have another 2 mouths to feed and dress and can't see how we will manage it.

Husband thought about asking to go bankrupt but the trustee says they have no intention of making him bankrupt. The mortgage company are on his back too as there are ?ú3000 of arrears and they keep sending threats of repossesion. I sent away an application for housing but even if we did get a council house we would need to sell ours anyway or hand in the keys and there's no way we can do that as a) we don't have the money to sell ourselves and b) we live in a village so the thought of everyone knowing our house has been repossesed just makes us feel ill. Husband still has another 2yrs at least of the trust deed to go and it feels like forever in a way.

Anyway... sorry for such a downer of a post, just needed to get some of that off my chest!