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T O P I C R E V I E W
steve26
Posted - 07 January 2010 : 22:37:31 After an expensive divorce(expense to solicitors)I have no option but to declare myself bankrupt. I am now remarried and my wife has her own property (being let) and savings (not enough to clear my debts).Would her property or bank accounts be affected or only if in joint names. We also have a joint bank account which we do have some money. Would this money be used by the OR to pay off debts. It is not enough money to make a dent in my debts. I have just started taxi driving and therefore bought myself a one year old minibus last june( registered in mine and my wifes name worth £17000), would the OR make me sell this and make me buy a cheaper one. Thanks
1 L A T E S T R E P L I E S (Newest First)
gettingoutofdebt
Posted - 08 January 2010 : 07:01:58 The OR would probably see the savings in the joint account as 50% yours/50% your wife's so they would want your 50% to pay towards creditors.
Any property or assets in your wife's name would not be affected by your BR.
If the minibus is a business tool then the OR should allow you to keep this as you need it for your livelihood. I would recommend speaking to Paul Johns from RevivaUK (http://www.revivauk.com/) as he has a lot of experience with people who declare BR but need vehicles for their business.
