I split with my partner of 7 years approximately 9 months ago. We have a house which is in joint names with an unsecured £25k loan attached to it (with Northern Rock), also, we have a payplan debt plan which includes all our sole and joint debt. We are both thinking about bankruptcy, is this a good option? What would the implications be if only one of us did it? Are the joint creditors eligible to come after the non-bankrupt person? I am currently 5 months pregnant and will be going on maternity leave in 4 months, so am concerned if my ex declares bankruptcy as to what position this leaves me in, am i best to go ahead and declare it too? Would this affect SMP? Id appreciate your help and advice.
If one of you declares themselves bankrupt then the other will be responsible for the whole of the joint debts. It would probably be a good idea for you both to declare yourselves bankrupt. It will not effect your SMP.
Make sure you get professional advise from one of the free debt charities. National Debtline will speak to you on the phone with out an appointment.They are open 9am-9pm 0808 808 4000
I split with my partner of 7 years
Posted - 19 May 2009 : 09:58:39
