My husband and I are separated and he is petitioning for divorce. He is now threatening to go bankrupt so we loose all assets is this possible. And what happens if his debts are significantly lower than our assets which are two boats. He also lives on one boat.
If his share of your joint assets and any assets solely owned by him total more than his debts, then he isn't insolvent, so he can't declare bankruptcy.
Speak to an expert on here for advice or speak to your solicitor if you have one, to see how this will affect you.
We have two boats jointly owned to the value of 75k. Debts owed by my husband are approximately 8k on credit cards and an over draft. We have a joint personal loan to my parents which is not in writing. He owns his own car approx £1.800 value. Hope this helps. Im seeing a solicitor today
My husband is petitioning for divorce and threatening to go bankrupt so we lose all assets.
Posted - 02 December 2012 : 14:48:52
