My partner is going to become bankrupt. However he cant get an appointment for 2 more weeks and the creditors are understandably 'jumpy'. Can he tell them he is going bankrupt or does all hell break loose? I am terrified, (sad, for the people we have dealt with for years) and worried that they will turn up at our door. He was a sole trader and it has all collapsed very fast. Also, when the OR goes through his expenses do they take into account what I earn. Finally(!)when he does a list of assets of the home I have lived with him for 20 years and have always earned money myself. Not that we have much but how do we say what is his? Is it just his stuff what about kids stuff ? Xboxes etc?
It's up to him whether he tells the creditors. To be honest, unless any of them are taking him to court in the next week or so, it really won't make any difference whether he tells them or not.
The OR will want to know that you are paying a fair share of the household bills.
Unless you have some items of significant value, you don't need to list normal household items.
just to make certain that you have examined all avenues and positioned your / him self correctly before petitioning for bankruptcy, i would make contact vicki or one of the other experts.
it is a lot easier to delay the court date than try and un pick a costly error that could have been rectified with expert advice
My partner is going to become bankrupt
Posted - 14 January 2011 : 21:42:53
