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TAZ
Starting Member

15 Posts
Posted - 25 March 2010 :  18:30:59  Show Profile  Reply with Quote
What happens if after BR i hand the keys back to the bank.The house is both myself and my wifes names but it is only me who is going bankrupt

gettingoutofdebt
forum expert



2418 Posts
Posted - 25 March 2010 :  18:58:34  Show Profile  Reply with Quote
If the house is also in your wife's name then she will be liable for any mortgage repayments or any shortfall if you decide to give up the property once you have been declared BR. This is the same for any other joint loans or credit cards.
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Housing
Senior Member



United Kingdom
1399 Posts
Posted - 25 March 2010 :  19:45:04  Show Profile  Reply with Quote
Hi,

I cannot add anything to what gettingoutofdebt has said - sound advice.

If you want a more detailed response - would need a bit more background.

have you taken advice so as to see if bankruptcy is the best route for you? If not, you should do - plenty of assistance on this site.

Come back as necessary, Richard

quote:
Originally posted by TAZ

What happens if after BR i hand the keys back to the bank.The house is both myself and my wifes names but it is only me who is going bankrupt


"There are no problems - only solutions"
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