My ex husband has declared himself bankrupt, we have joint debts amounting to about £40000 due to repossession of the marital home, how will this affect me? I am on my own with our three children and unable to work due to two of my children being disabled.
Hi if all of the £40,000 is /are loans taken out in joint names and duly signed by both parties (i.e. as in the joint mortgage)then on your ex declaring bankruptcy the legal liability to repay the £40K falls entirely to the remaining party, in this case your goodself.
In the event you have no means to repay the debt then any creditor being owed a minimum £750 is at liberty to commence bankruptcy proceedings against you.
ex husband bankrupt how will this affect me?
Posted - 23 August 2008 : 17:36:13
