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| Stephen.sj |
Posted - 03 January 2012 : 09:19:35
hello, i am married with two children and have personal debt in excess of 15,000 everything is in my wifes name mortgage bills etc, i have no savings,pension, etc, if i go bankrupt will this have any effect on my wifes assets, eg house, pension, savings etc?, thankyou |
| 2 L A T E S T R E P L I E S (Newest First) |
| Melanie.n |
Posted - 03 January 2012 : 10:12:01
It may well be worth you having a chat over the telephone with one of the experts on her (we can be contacted via the experts tab on the left hand side of the screen, it may well be that there are other options available to you other than bankruptcy
Have a chat, it will be non committal and free, so you have nothing to lose, Melanie
Melanie Nicholas CertDR
30 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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| Melanie.n |
Posted - 03 January 2012 : 10:09:40
Hello there
Your bankruptcy would only affect your debts and your assets, the only exception being if your had any joint named debts such as a joint loan or overdraft - in such cases, the whole of the amount of joint debt would be in your bankruptcy but the other named person on the 'joint debt' would still be liable for that debt amount (not half the amount)
If your have a home which was purchased via mortgage during your marriage, questions may be asked by the Official receiver as to whether you have any interest in the home, regardless of whether or not it is in your wife's sole name. They would want to establish whether or not you have contributed to the home
your wife's debts and assets (other than the home) in her own name would not be affected by your bankruptcy
Hope this helps, Melanie
Melanie Nicholas CertDR
30 years insolvency experience - 23 of which in the Insolvency Service
- Insolvency Manager
Jones Giles
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