Hi igirva10

You are paying £500 for a negative equity house which you no longer reside in. I could weep!

I don't think there will be a detrimental effect either way. Either the house position stays as is, or it's sold/repossessed. Whatever happens, your trust deed would pick up any shortfall.

Mark

Hi Mark.

Thanks for your quick response. yeah i was told that the £500 would protect the house incase it increased in value after the 3 years of my trust deed.

Im just so worried about it all - it took me months to stop worrying when going into a trust deed - now this stress! i dont want the house to be repossed as the main reason i didnt take the bankrupcy route is because we both decided we didnt want to lose the house. Our relationship breakdown was the stress of being in so much debt. We have 1 child together and just dont know where i stand? x

Hi igirva10

I suspect the same position will apply. If there's no equity in the property and he intends staying there, then I suspect things will be exactly the same. It all boils down to equity, if there's nothing there. Then things will remain unchanged I suspect.

Mark

Thanks Mark. yeah he does intend to stay in the house. Would i be able to speak with you directly as you give straight to the point advice. When i entered into my trust deed i was unsure about all the different things and i now realise that really i shouldnt be paying the extra £500 if there is no equity so im scared to seek advice from my ip and they give me the wrong advise and we end up losing the house - i would only really be happy with him going bankrupt if 100% didnt lose the house. thanks

Yes of course, no probs.

If you send me contact info, I can call you Monday to run through stuff.

I'm sure it will be fine.

Mark

PS going offline now, watching the end of Spiderman 3!

As Mark said, the house should not reallly make any huge difference to our situation. Although many of us don't charge the £500 for houses in trust deeds, it was common practice for a long time, so your trustee may not be all bad. I am sure once you have spoken it over with Mark, you will feel rmore relieved.