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 bankruptcy postbag for july
 not sure whether I'd qualify for bankruptcy

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T O P I C    R E V I E W
sally.k Posted - 29 July 2008 : 23:19:35
I am considering bankruptcy, but am not sure whether I'd qualify. My partner who lives with me earns n okay wage, while i am at home looking after our baby. I have no income apart from child benefit. I have almsot £10,000 of debts that I paid a lot off while i was working, and now rely on my partner to pay. he can't pay them, as he had a debt of £28,000 of his own, and is sorting it out through the IVA.
Please can you advise me- i have 2 sons going to university soon too, and don't want this to affect their student loans or future credit rating.
If I was on state benefits as a single mum, would banckruptcy be viable then too?
Thank you for your time,
sally
3   L A T E S T    R E P L I E S    (Newest First)
Suzanne Posted - 30 July 2008 : 13:09:10
If you share the household they would calculate income as a percentage depending on the amount of money contributed to the household from each of you. You would be expected to pay a pro rata amount on this basis towards household expenses.

You would need to demonstrate to the Official Receiver that the car is necessary and not just for convenience for them to consider it as exempt.

Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk
sally.k Posted - 30 July 2008 : 13:03:00
Thank you for your advice.
Wouldn't they count my partner's earnings in with my child benefit though? i thought all money would be counted together,or would it be different as we are not married?

I also have a small run around car(school run's etc) and it's worth about £1500, would the courts take this to help settle payments?
Thank you.
Suzanne Posted - 30 July 2008 : 08:51:29
Hi Sally

Your husband should be unaffected by your bankrutpcy, and the same would be for your sons.

Anyone can petition for their bankruptcy if they are insolvency and/or unable to pay their debts, as long as they can raise the petitioning fee.

Suzanne Stocker
Bankruptcy Manager
Jones Giles Ltd
www.jonesgiles.co.uk

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