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T O P I C R E V I E W
Lyn.30
Posted - 05 October 2011 : 19:17:34 my partner has recently left his wife and is struggling to pay the mortgage on the home where she lives. he also has a bank loan of £10,000 in joint names with her. the house has been valued at £20,000 less than the outstanding balance of the mortgage and this means he has debts of around £30,000. if the house was reposessed would he be able to declare himself bankrupt? he works and earns about £250 per week.
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Niobe
Posted - 06 October 2011 : 08:04:48 Hi and welcome.
Yes, he would be able to declare himself bankrupt. His wife would be responsible for both the mortgage and the bank loan if they are in joint names as they are both liable for the debt so she would have to find some way of financing this.
Speak to to one of the experts who post on here for further advice,
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