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grant59
Starting Member
United Kingdom
25 Posts |
 Posted - 22 January 2009 : 22:14:23
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| I owe about £40.000 to the bank including Credit card, I have been told I will be made redundant by the end of the week, its a joint account, however I took out the loans in my name, does my wife also need to declare herself bankrupt because she will not be able to pay this off? |
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John
New Member
United Kingdom
73 Posts |
Posted - 22 January 2009 : 22:55:29
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Hi
I'm not clear on your meaning.
You say you have an account with the bank which is jointly held with your wife.
You also have a borrowing from the bank of £40K which only you signed for.
They are either 2 seperate accounts or the bank has messed up. Providing the bank does not hold a copy of the loan bearing your wife's signature she is legally not liable although the bank may state otherwise.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 23 January 2009 : 13:00:23
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Great advice as usual John!
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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grant59
Starting Member
United Kingdom
25 Posts |
Posted - 25 January 2009 : 21:30:16
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John,
Just following up on my last question, I do have a joint bank account with my wife, I was allowed to take out loans up to 40k without her permission, I did ask the halifax if she needed to be notified and I was told it would be fine to do this myself.
Just to put you in the picture I was a compulsive gambler and needed the money to feed the habbit, and to consolidate my existing loans with them.
I got the loans approved within the hour but at a steep price 16.9% interest and was advised to take the loan over 7 years with insurance cover.
I will be seeking advise to see if I can declare bankruptcy by myself as all loans are in my name only.
Regards
Grant
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John
New Member
United Kingdom
73 Posts |
Posted - 25 January 2009 : 23:03:02
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Hi
I will post again tomorrow having taken further advice but I'm reasonably sure your wife cannot be jointly liable for credit taken out without her knowledge - even on a joint account.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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grant59
Starting Member
United Kingdom
25 Posts |
Posted - 29 January 2009 : 20:41:00
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Ok Thanks
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John
New Member
United Kingdom
73 Posts |
Posted - 29 January 2009 : 20:59:47
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Hi Grant
my research, and the advice I have received, suggests your wife cannot be held responsible for a debt she neither knew about, or signed an agreement to.
www.Bankruptcyhelp.org.uk
0800 078 9367 |
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grant59
Starting Member
United Kingdom
25 Posts |
Posted - 02 March 2009 : 21:44:14
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Is it worth paying the £350 for assistance with the BC forms, they do look quite complicated. Any advise appreciated,
Thanks
Grant |
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grant59
Starting Member
United Kingdom
25 Posts |
Posted - 02 March 2009 : 22:00:40
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I was a compulsive gambler before joining GA. I have since been told that I may be forced to be bankrupt for longer than 12 months, is this correct.
Any help appreciated.
Grant |
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Topic |
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I owe about £40.000 to the bank
