My partner has run up debts and is going to declare herself bankrupt, some of the debts are hers only but the mortgage on our house is shared, some of her debts have used the house as collateral, will I become responsible for her debts?
hi rosemaryda i am not sure ofthe full answer but i think you could be held responsible for the secured debts but the unsecured debts would be written off in her br, if you wait you will get some more answers from the experts who will be able to confirm (or not)what i have said,but keep posting any questions and we will give you all the support we can in these stressful times
Any unsecured joint debts will be 100% your liability if she goes BR.
With regard the house, secured debts are exempt from BR. However, the OR/trustee will need to relaise her interest in the property for the benefit of her creditors. Is there any equity in the property?
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
responsible for partner's debts?
Posted - 28 September 2008 : 21:46:42
