Hi, Hope someone can help - my husband and I split up over 12 months ago and because of our ongoing financial mess we kept our financial affairs together and I took cash out of our joint account for him on a monthly basis, we have decided that to move on we need to sort things out and the best option is bankruptcy, what will happen because both our incomes have gone into one account and all outgoings have come out of it, I have been claiming tax credit as a single person. The way we seen it was that he was basically helping out with the mortgage etc (he has stayed with friends and parents over the past year). Will this be seen as a strange set up when they come to view the bank statements? We have applied for help under the mortgage rescue scheme so that the housing association buy our property and then I rent it back (although the valuation has just put us in neg equity so not sure whats going to happen now) Any advice would be appreciated.
The situation is not unusual and for the basis of completeing the bankruptcy forms, it will be easier to list all the income and all the relevant expenditure if it is all contained in one account. If you decide on bankruptcy either on your own, just your husband or both of you, you will need to set up individual bank accounts (such as Co-operative Cash Generator or Barclays Basic account) to move forward for income purposes.
If I can be of any further help please feel free to post with any concerns or queries
Melanie Nicholas 28 years insolvency experience - 23 of which in the Insolvency Service - Insolvency Manager Jones Giles
The Barclays basic account is supposed to be BR-friendly but I tried to open one and got refused. They would not give a reason and I think they did not accidentally try to open a fully fledged account. My only guess is that I was not on the electoral roll and it failed because of that.
Will this be seen as a strange set up
Posted - 26 February 2009 : 19:12:11
