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| labtec |
Posted - 09 October 2008 : 17:48:37
me and my fiance have a car on joint finance and we want to no if my fiance be held responsinle for the debt if i go bankrupt on my own will my fiance be resonsible for the payments , so would it be best for us both to go bankrupt??? |
| 2 L A T E S T R E P L I E S (Newest First) |
| Needafriend |
Posted - 09 October 2008 : 19:22:10
Hi Labtec and welcome
I can see what your saying but as eamonn has said it is not s simple process.
It may be worth calling our helpline and getting some one to one advice on what options are there for you.
BR is really a last resort and if there are other ways to help then really you should find out about these and see if these would get you through rather than go straight into BR.
Like eamonn said what assets do you have, what other debts do you have?
Any more info can help us to help you.
Good luck and keep posting
Jo x
Your Mother Hen :-)
Please visit my blog for info on how I got here and other information to guide you through from my experience called:
"Mother Hen's New Debt Free Life with Links and added info on Bankruptcy!" available to view at:
http://debtfreejo.blogs.bankruptcyhelp.org.uk/ |
| eamonn |
Posted - 09 October 2008 : 18:00:34
hi labtec
if the car is on joint finance then if one of you was to go br the other would be liable for the debt,but if you both went br the debt would be writtn off  but so would your future credit rating (well for at least six years anyway )you should both think hard if br is the only route for you, do you own your own place as it could beat risk,do you both have other unsecured debt's,have you considered selling the car and repaying the finance that way,or perhaps a dmp,or iva
this is a great site to get all the imfo from and of course you could ring the helpline at the top of the page,i hope this helps and keep on posting and you will get all the help and support we can give |
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