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Elaine.23
Starting Member
1 Posts |
 Posted - 06 June 2012 : 18:00:12
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| I am around £50,000 in debt and I have a repossession with the outstanding balance of £29,000 joint with my husband soon to be ex, all of my other debt is in my name, will my repossession be included in the bankruptcy or will it all fall on him, please help |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 06 June 2012 : 18:12:21
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Hi Elaine,
It will be included in your bankruptcy but your ex will still be liable for the full amount of any joint debts, which means that he will be chased for the repossession shortfall.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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Niobe
Administrator
United Kingdom
4590 Posts |
Posted - 06 June 2012 : 18:22:31
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Hi,
All of your debts will be included in your br.
Follow through
Make your dreams come true
Don't give up the fight
You will be alright
'Cause there's no one like you in the universe
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year 2029
Average Member
590 Posts |
Posted - 07 June 2012 : 13:13:13
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To reiterate,
Only your personal debt will be included.
Joint debts will still be liable by your soon to be ex.
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Viki.W
forum expert
United Kingdom
2211 Posts |
Posted - 07 June 2012 : 14:57:01
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Elaine, your personal debt solely in your name and also any joint debts are all included in your bankruptcy.
However, your ex will still be liable for any joint debts.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp |
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year 2029
Average Member
590 Posts |
Posted - 07 June 2012 : 15:05:18
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Have I missed something?
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Views expressed are my own personal views, based on what has happened during my own BR process unless otherwise stated.
Professional advice should always be sought. |
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Skippy
forum expert
United Kingdom
3290 Posts |
Posted - 07 June 2012 : 15:12:47
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As Viki says joint debts are included in BR but as you are jointly and severably liable creditors can chase the other party for the full amount owed.
View my blog at http://skippy13.blogs.iva.co.uk/
Only when the last tree has died, the last river has been poisoned and the last fish has been caught will we realise that we cannot eat money.
Last IPA payment made on 28th June 2010 and I'm now looking forward to getting married in September 2012 - I'm proof that you can go BR and come out the other side. |
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Will my repossession be included in my bankruptcy ?
