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| Barry.ja |
Posted - 14 July 2011 : 17:08:34
my wife and i are seperated and she wants to claim bankrupcy . The house is in both our names and i have recently started a company which she has no claim on. In what ways will i be affected by her bankrupcy ? she has moved to scotland so is these laws diff ? |
| 2 L A T E S T R E P L I E S (Newest First) |
| Blackie |
Posted - 16 July 2011 : 10:33:05
Hi Barry.ja
Yes Scottish law is slightly different and the way one goes about making oneself bankrupt in Scotland is different and she would have to take advice.
However your joint home would be in jeopardy and the Accountant in Bankruptcy (if she made herself bankrupt in Scotland) would want her share of the house. If you are still living in the house, you should get first refusal to whether you wish to purchase her interest in the house which would normally be a straight 50% oof any equity.
Your company will not be affected at all by her bankruptcy unless she is involved as a Director, Shareholder or, possibly, employee.
All the very best
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
| Blackie |
Posted - 16 July 2011 : 10:32:40
Hi Barry.ja
Yes Scottish law is slightly different and the way one goes about making oneself bankrupt in Scotland is different and she would have to take advice.
However your joint home would be in jeopardy and the Accountant in Bankruptcy (if she made herself bankrupt in Scotland) would want her share of the house. If you are still living in the house, you should get first refusal to whether you wish to purchase her interest in the house which would normally be a straight 50% oof any equity.
Your company will not be affected at all by her bankruptcy unless she is involved as a Director, Shareholder or, possibly, employee.
All the very best
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
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