If I were to go bankrupt how much will this affect my common law partner, who has a mortgage on the house but my name is not on it. Can I avoid it affecting his credit rating, and how long would it be before I could take out credit again? I owe between 15 and 20k and have about 10 different creditors.
Declaring bankruptcy only affects you and not your partner or anyone else at the address.
The last thing that people who are about to declare BR should think about is when they can take out credit as that is normally what put them in this place to begin with.
BR is not an easy way out of debt and it will affect you in the future. The debts that are included in your BR will stay on your credit file or 6 yrs so chances of getting credit within this period are slim. You may be able to find some creditors who will help but they will charge you a very high rate of interest.
If I were to go bankrupt
Posted - 10 September 2009 : 10:40:01
