There may be some useful arguments there fizzy and the trustee will want to act fairly I'm sure.

They do have responsibilities to creditors as well though so its a balancing act.

Hopefully some legal advice and the information from Kevin will help Haggis, and thank you for sharing your thoughts.

Well just to update this thread - there is no update............I still havent heard a thing from the trustees. I heard via the bank solicitor that they were doing a "drive by" valuation and that was 4 weeks ago. My solicitor is now going to make contact with them. For past month I have been getting receipts for all home improvements i.e double glazing/central heating/new kitchen, bathroom etc including garden decking, fencing and all my receipts so far that I have got total £19000 approx. Bank have confirmed I have paid just over £30000 in mortgage payments myself in the 11 years since I left that (edited). Plus council tax payments comes in at another £10000.

My solicitor has told me that he will be requesting 50% of the total amount listed above be deducted from the equity.........so I estimate there is around £55000 equity at the very most then deduct my share of everything.........doesnt leave much if anything. His debts are £16000 plus £6000 trust deed charges (or charges plus interest am not sure how it works at that end)

Can I ask one of the experts to confirm that if his trust deed is for a total of £22000 then that is the amount they will come after me for and not half the equity which is slightly more - before any of the above mentioned payments come off. That all confuses me slightly

I so wish this would hurry up and be over as the stress is making me ill.

Hi Haggis.

The most that your ex will need to pay should be:

1 - His debts.

2 - Interest on the debts.

3 - The fees and costs associated with the trust deed.

Hopefully your solicitor can help you to make some progress here.

Thank you for that. Also as I am on the other side of the fence so to speak, would a trust deed expert accept that all of the above i.e mortgage payments and costs of home improvements should be deducted from the equity?

Hi Haggis.

I may be wrong, but I'm not sure that any of the experts will commit to a firm answer on that question.

It does appear that you have many points in your favour that can be argued and which will hopefully influence the final outcome that is achieved.

The performance of your solicitor is possibly going to be very important.

Okay thats no problem - thanks again. I will update when I FINALLY hear something.

I think that it should certainly be taken into consideration and the basis that your solicitor has set out seems very reasonable to me.

I doubt they will just roll over and accept these terms, given that there would be no equity left to pay over, but if the trustee wanted to force the issue they would have to pursue an action through court - something most IPs are generally very reluctant to do, especially if there is any chance that they won't get the outcome that they want.

In the end it is likely that to avoid this a deal could be struck whereby a much lower payment than they initially wanted would be agreed. That's assuming that you have the means to make some sort of offer, which I guess may not be the case.

It sounds like your solicitor is on the ball anyway, so here's hoping he can make a convincing case on your behalf.

Thank Kevin - I do have a lot of faith in my solicitor.

I am hoping that the fact my ex husbands trust deed has started and he (I am assuming) paying what he has agreed will help.

I am as bitter about this today as I was a month ago - even more so. Christmas just round the corner and I have bought my gifts with cash as I always do. No debt, no credit cards and no loans - but I am expected to pay £22000 for someone else's mess. Absolutely pathetic.

So I am still living this nightmare but hoping an end is now in sight. I dont want to post too much of what stage its at just now as I have to make a decision re an offer.

My questions are ............

The trustees have made another offer to me saying they will put this offer to the creditors. I do feel they have been sympathetic towards me but also I appreciate they have a job to do - though I am still very bitter about it all.

If the creditors say yes they are happy to accept this offer of x amount ......how long will it all take to wind up and complete? I am so desparate to have this nightmare over as my life been on hold since October 2012 because of my ex husbands mess

Hi Haggis.

It shouldn't need to take long, but you or your solicitor will need to ask the trustee concerned how long it will take them to do the work that's required.

Thanks Amy. So I take it what happens if I do accept this offer, that the trustees write to my ex husbands creditors saying will you accept part payment from this sum of money we will be receiving? Then am assuming my ex husbands debt is reduced by that amount but he continues to pay whatever is left and I can get on with my life with no further part?

Probably Haggis, but you or your representative should get this confirmed by the trustee in advance.

I'd want it in writing.

Hi Haggis

It is certainly a good idea to get these things in writing.

I don't see the creditors being a problem in accepting the proposal as they normally assume that the Trustee has looked at the proposal and decided this is the best option.

Mark

and am back again with this neverending saga...........but think an end is now in sight.

So my solicitor has written to the trustees to say that we accept the amount of x and the trustees have written to the creditors to see if they will accept this payment. I dont expect them to say no. I have got this amount to be added onto the mortgage - my new mortgage which will be in my sole name.

Am just wondering now am at this stage.........is it much longer now? Am going to go see my solicitor on Monday but to be honest because I have equity in my home I am having to pay all these legal costs as well and its going to be around £1700........so am trying to not see my solicitor on a regular basis because of all these nightmare costs.

Am hoping it works along the lines of their is a completion date set? Like if you were buying a home you have a completion date. I NEED A DATE!!

The trustee will need to sign a legal disposition, transferring title into your sole name. That in itself is a quick process, but they will only do this once the mortgage lender has arranged the re-mortgage and advanced the funds via your solicitor, which would normally be the more time-consuming part.
Are you a fair way down this road already, Haggis? Has your mortgage lender agreed the new mortgage?