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T O P I C R E V I E W
Dido
Posted - 23 January 2010 : 13:10:25 I have a query: My husband and I are both going bankrupt but unfortunately do not have the £1000 upfront fee to do it. Is it possible to do it individually ie one go bankrupt one month and one go bankrupt a couple of months after that and if so what happens with the joint and severally liable debts in this instance? We have a mortgage outstanding on our repossession of £20,000 and old council tax debts in joint names. Do they take his half off first or do they plough it all into the last person's overall debt?
4 L A T E S T R E P L I E S (Newest First)
Housing
Posted - 26 January 2010 : 12:18:46 hi As has already been said, there is nothing wrong with staging BR - one at a time. See what Richard P has said - it is working for them.
I suggest that you seek some free advice from one of the insolvency advisers on the left hand side of the page - they come highly recomended with a good pedigree.
If you have assets, they may be able to be saved - depends how far action has gone down the road and values etc - not impossible.
Be strong and seek advice now - post again after you have emailed or telephoned the insolvency experts on the forum.
Richard
"Life is generally something that happens elsewhere" (Alan Bennett - author and one of my best heroes!!)
Richard P
Posted - 25 January 2010 : 19:18:32 Hi Dido
My wife and I went bankrupt about 6 months apart
My wifes joint debts transfered to me,
The lenders went quiet for about 6 - 8 weeks and then the phone calls started again.
My wife will have little or no chance of being discharged early (not that we are in any rush to be discharged) as the files are again being tied up and processed together.
The Or and judge both asked why the time frame, I had a fair answer and nothing further has been said
So in answer to your question No problem staggering BR and as you have already stated it was staggered to allow you time to raise the funds, should be acceptable
regards Richard
gettingoutofdebt
Posted - 23 January 2010 : 14:21:15 There is nothing stopping you declaring BR separately but as Charlie says and joint debts will then revert to the non-BR person so they creditors will chase them for the debts.
charlie44
Posted - 23 January 2010 : 13:57:08 If they are joint debts, they will go to the person who is not BR.
Life`s Tragedy is that we get old too soon and WISE too late!
