I am very close to startig the ball rolling after months of humming and harring over it. I am only the one going bankrupt not my partner, I have many questions but one that is probably important right now
I have a joint account with my partner and that has a large overdraft, I asked for the bank to remove her name from the account but they refused until the account is in credit. If I leave it I take it the ban will go after her for the money.
I haven't got the money to do so so what is the best step for me to do.
I the plan to open a co-op account for me to recieve my disablity benefits etc
Welcome to the forum, the desission is the hardest part so well done on taking the first steps.
Unfortunatly the joint account overdraft is in both your names and so if you declare bankruptcy the bank will chase you wife down as the liability becomes soley hers.
May i suggest you contact the bank explain your situation and offer a monthly payment form your wife that is affordable.
If your wife has other debts it may be worth considering a Debt management plan.
bankruptcy will wipe out your debts but will leave any joint liability still the responsibility of your wife. Worth checking any loans or other credit agrements prior to your Br to ensure thay are covered.
take care
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com
Close to taking the step
Posted - 19 March 2008 : 10:40:56
