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twinkletwinkle
Starting Member
4 Posts |
 Posted - 14 February 2010 : 15:07:40
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My husband and I have been married for 3 years. He has debts of over £30k from before we met and has been unable to pay anything off these for some time due to being made redundant. We are due to have a baby next month and he will be little one's full time parent whilst I return to work. As such, he will not have any income for the next few years. He is thinking of going bankrupt and has no assets. Other than my paying the fees for him, will I be expected to pay anything else? What usually happens to someone who applies for bankruptcy that has no income at all?
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debtinfo
forum expert
2826 Posts |
Posted - 14 February 2010 : 17:05:14
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| do you own the property, he wont have to pay anything out of his or your income |
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twinkletwinkle
Starting Member
4 Posts |
Posted - 14 February 2010 : 17:10:43
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| Thanks for your reply, yes I own the property. |
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debtinfo
forum expert
2826 Posts |
Posted - 14 February 2010 : 17:26:38
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| solely or jointly? did you own it before you met? how long? does it have equity? has he contributed in any way over the last 3 years? |
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twinkletwinkle
Starting Member
4 Posts |
Posted - 14 February 2010 : 17:36:47
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| The property is on my name only and was bought about a year before we met. There is currently about £15k equity in it, which is half of the deposit I put down when I bought it (due to drop in the market). He has worked for some of the time that we have been married, earning about a third of the income that I do. He has contributed to the household in that his income pays for the groceries. All of the bills are paid by me and are solely in my name. |
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debtinfo
forum expert
2826 Posts |
Posted - 14 February 2010 : 17:43:16
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then i dont think the OR would have any claim on it, be prepared for them to ask questions though and for him to explain that all the deposit came from you, and you should be fine.
as i said before neither he nor you should have to pay anything |
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twinkletwinkle
Starting Member
4 Posts |
Posted - 15 February 2010 : 08:24:32
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Thanks for that, I hoped that would be the case. I have just had a thought, what happens to pensions in bankruptcy? Hubby was made redundant from DWP after working for them for 15 years so will be entitled to a pension when he retires (20 odd years from now). How are public sector pensions treated in BR?
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Richard P
Senior Member
United Kingdom
1701 Posts |
Posted - 15 February 2010 : 18:03:58
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govt approved pension schemes that far in the future are safe
regards Richard |
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My husband and I have been married for 3 years.
