Hi, My husband and I both need to petiton for BR, I'm trying to figure out if its best to both do it together or for one of us to go first and the other later. Is there any advantages to either? i.e if just me goes bankrupt would anybody make my husband bankrupt as he cannot pay the joint debts? (no income) A summary of our debts are:-
Joint - Mortgage arrears (house repossessed in 2008) 5k plus unknown fees Overdrafts - totalling 5k Council tax arrears - 3K
in your circumstances I see no advantage either way except that if you do so at the same time then it's all over and done with in one go and you will probably have the same examiner dealing with both your cases which will make life a little easier.
The chances of a creditor making your husband bankrupt, or anyone for that matter, where there are no assets to recover are slim as the creditor's court costs are around £1500 to do so.
It's worth paying the 2nd fee if you are able and do it yourselves as the creditors of the non bankrupt will only continue to hassle you.
single or joint petition?
Posted - 14 March 2009 : 15:51:57
