My partner has been made bankrupt but is still not paying any bills. The mortgage is joint as is the secured loan on the house meaning there is no equity in the house. Everything is now falling on my shoulders and I can't afford to pay everything. What happens to the secured loan if we decide to sell and go our separate ways?
All loans and mortgages that are joint will now be your responsibility as your partner has declared BR.
If you sell the house then you would need to pay off the secured loan and mortgage. If there were any shortfall then the creditors would chase you, and not your partner, for the shortfall.
My partner has been made bankrupt but is still not
Posted - 24 September 2009 : 10:07:31
