I need some advice, Someone I know has gone off to buy a house in spain getting another mortgage, re signed the house that they are selling in this country back to his wife (who use to originally own it) and making a nice profit on it and has left a large amount of debt. A man went to see them and has said that because the house is in his wifes name and he didnt contribute much to it he doesnt have to pay any of the debt back.
I cannt understand how this can be, have read a bit about bankruptcy and IVA's.