My partner is looking at Bankruptcy at the moment. We do live together ana have 2 children and i was wondering if the lcd tv's and childrens computers would be seized as they are all in my name only and not yet fully purchased. I am not going to be filing for bankruptcy. Could you please let me know.. THANKS.
these types of goods would be unlikely to be seized in any situation were they owned by the bankrupt. The fact that they belong to you and you will not be petitioning for bankruptcy yourself makes them safe.
If, however, they were of particularly high value (minimum £1000 per item auction value) and you were not working then the fact that they are in your name when your partner is servicing the repayments would be evident and thus the goods could be deemed to be owned by him.
And then again, if the are being purchased via HP agreements they are exempt.
Thank you very much for the reply. It has been a great help and could you please tell me if everything else in my partners name gets written off? I am also wondering whether they will seize our joint bank account as this is where all benefits go into while hes out of work and all my household bills get direct debited from?
everything in your partner's sole name will be written off. Any joint debts will fall entirely to the remaining party, yourself.
If you have a joint bank account arrange to have your partner's name removed from the account before he declares bankruptcy. This will not affect the benefits being paid in or the DD's going out but it will prevent the funds from being frozen and the account being closed.
My partner is looking at Bankruptcy at the moment.
Posted - 06 March 2009 : 22:45:35
