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 me and my boyfriend have a joint mortgage
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Louise.15
Starting Member



1 Posts

Posted - 05 April 2011 :  01:34:32  Show Profile  Visit Louise.15's Homepage  Reply with Quote
me and my boyfriend have a joint mortgage and joint loans on the house both secured and unsecured. The remainder of our debts are solely owned. As I am in more debt than my partner can i go bankrupt and not him and he just continue to pay his debts off himself?

also would we lose our property?

fattypatty
New Member



United Kingdom
69 Posts

Posted - 05 April 2011 :  09:15:29  Show Profile  Reply with Quote
hi louise im no expert but if you have joint loans all the debt you have moves to him, myself and my husband have joint loans and i have just declared bankruptcy we couldnt afford to do it at the same time .
until my husband declares bankruptcy im sure the debt is all his its only sole debts that are sorted until then .
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Richard P
Senior Member



United Kingdom
1701 Posts

Posted - 05 April 2011 :  10:09:12  Show Profile  Reply with Quote
Hi louise

re house
depends of value of your house, the amount of equity, also as you have secured loans on the property,

if the charges on your property means that the monthly outgongs are significantly higher than to rent locally the OR could insist you rent but that is rare.

in any case any action on your property would be a little bit down the road (9 - 30 months).

All though debts are joint you do not have to take same course of action at the same time



Good Luck Richard,
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