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JGM, Solicitor
Category: Law
Satisfied Customers: 12081
Experience:  30 years as a practising solicitor.
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I recently lost a Court case and have to pay the costs. To

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I recently lost a Court case and have to pay the costs. To do so means I will have to sell my house. When the mortage is paid the legal costs will have to be paid from the remaining equity. I am 63 and this is likely to make my wife and I homeless. The house is in my name and we have only been married for 2 years. Is there anything I can do to avoid this tremendous loss of virtually everything?
Thank you for your question.
This is a difficult one and the answer to your basic question is no. If you owe a debt and you have an asset such as a house it would be the case that the house would have to be sold to meet the debt.
You could mitigate the debt by trying to get the cost awards down and you are doing that from what you say. You could transfer your house out of your name but that would be challengeable were the creditor to make you bankrupt. You could sell the house, disappear, and buy another one in the name of your wife but again that would all be challengeable were you to be made bankrupt.
So whilst there are things you could do, you would not necessarily get away with it. There is no absolute remedy for you but if you do nothing you will lose the house. By doing something you might salvage something.
I presume the case is lost and there is no prospect of success at appeal.
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