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Donald asks:

Date added: 02.02.12

My daughter was made bankrupt by HMRC due to the fact that her husband's business went down and he had not paid her tax and National Insurance. Her house was taken from her and sold by the receivers. It was only in her name and she is trying to find out how much it was sold for and how she can find out about any equity outstanding.

It was a shared ownership scheme, but she had quite a lot of equity and only a mortgage of approx £30,000. The market price of the house was approx £190,000 and the debt to HMRC was approx £15,000. I would appreciate your help. Many thanks.

Frances Walker
Debt & Bankruptcy

Your daughter should contact her Trustee in Bankruptcy for further advice.
During bankruptcy, the Trustee will protect the interest of the shared ownership, but your daughter's legal title of the property will have passed to the Trustee, who would have disposed of it and distributed the proceeds of the sale to her creditors.
 
I would also recommend advising your daughter to contact a debt charity such as CCCS, National Debtline or Citizens Advice, which will be able to give her the best advice based on all of your daughter's financial circumstances.



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