Does my partner get involved?

purpleplumb

Just a quick few questions if someone would be so kind of giving me some advice...

1. If I were to marry my partner does she become involved with all my debts. The debts were done by my ex wife.

2. If I was to go bankrupt would it be wise to get my mothers will changed? At present she has me down to receive some money if anything happens to her. God forbid it doesn't. Could I have it put into my new wifes name once we are married, or does this still links it back to me?

3. I have already left the UK and live in a country outside the jurisdiction, what can the creditors do about chasing me for the money.

Just to let people know, I had some credit agency chasing, they have now got my mother's address and have threatened to come out to her address on many occasions. Even though I have never lived with my mother at that address. I have managed to get my solicitor involved to stop them. At present they have left her alone, but now I have American Express chasing down hard.

december

Hi and welcome to the board,
I'm by no means an expert but will have a go at answering a couple of your questions then someone else will probably pop along and correct me if I'm wrong Your first port of call should be one of the debt charities eg CAB, CCCS or national debtline.

1. Your debts are your debts. As long as the two of you are not financially linked (eg have a joint account) your credit rating shouldn't impact upon hers. However in terms of income and expenditure if it comes to bankruptcy her contributions towards the household expenditure would be included as income.

2. Any assets which you inherited during bankruptcy would be dealt with by the official receiver (OR) who administers the bankruptcy. In all likelihood any assets she would leave to you would be taken by the OR.

3. I don't know the answer to this question. Presumably the same course of action as if you lived in the UK so threatening letters, threats of court action, court action (to try and get a CCJ against you) and them making you bankrupt. I found that a lot of my creditors did a lot of threatening but didn't take much action although others may have had different experiences.

If you have any questions shout up with them but make sure you contact one of the debt advice charities first as if you didn't and tried to go bankrupt the judge could refuse your petition.

December
December

peachyprice

Just to add, American Express are likely to make you bankrupt in your absence.:eek:

purpleplumb

Thanks for the replies...

Would it be wise for my mother's will to be changed into my partners name, just in case anything did happen. Surely they could not chase my partner for the money if it was left to her...?

My partner does not work, she has given up everything in the UK to start a new life with me, hence working for her where we live is a bit impossible.

As for American Express, I take it they are the main ones to make you bankrupt... My solicitor is making me hold back for one of the creditors to make me BR, is this wise?

Sorry for being a bit thick, but what is the difference from me going BR or one of the creditors?

peachyprice

purpleplumb wrote: »

Thanks for the replies...

Would it be wise for my mother's will to be changed into my partners name, just in case anything did happen. Surely they could not chase my partner for the money if it was left to her...? Yes that would be wise, it would be safe if left to your wife.

My partner does not work, she has given up everything in the UK to start a new life with me, hence working for her where we live is a bit impossible.

As for American Express, I take it they are the main ones to make you bankrupt... My solicitor is making me hold back for one of the creditors to make me BR, is this wise? They are the only CC company who will make you BR, the only others who would are HMRC and council tax

Sorry for being a bit thick, but what is the difference from me going BR or one of the creditors? No difference really, except you won't have to pay . But you must keep ckecking the insolvency register to see if you have been made bankrupt, then deal with the OR from where you are. If you ignore it you will not be discharged and they will catch up with you if you ever come back to the UK to live.

Anymore questions just ask

december

I couldn't comment about the will situation to be honest. I think that is a decision you would have to make yourself

The difference between you making yourself bankrupt is firstly the cost. If you make yourself bankrupt you pay the admin fees and court costs (around £495 unless you qualify for help with the court fees (I think) which would knock off about £130?) I've probably got that wrong.

Secondly if a creditor makes you bankrupt you don't pay the fees but you do have to wait for them to do it, and that could take quite some time. Also the OR apparently delves into more detail and the interview process can take longer. (I think) It's basically an issue of control - if you decide to go bankrupt you can decide when it happens i.e after you have been paid so you withdraw the money you need to live on, to pay the bills etc, what date it will happen on, all of those details. You can stop paying your creditors to save up the money for the bankruptcy fees. If a creditor does it you'll probably get some notice (is it a month?) but really in terms of timings you're at their mercy.

I'm sorry I'm n ot more factual in my replies

December

purpleplumb

Peacyprice...

If I do not sort out the OR as I live in the middle east, how long does it still go against me. At present I have no intentions of coming back to the UK to live for another 10years. However, I will come back just for a few weeks of the year to see family.

tigerfeet2006

It will stay as suspended until the OR can get to talk to you and then will go from then. If you provide the OR with a phone number he should be able to ring you there and talk to you.

LilyBart

I'm paraphrasing what I've picked up from others so don't take this as gospel but money left in wills counts as an "after-acquired asset" and will be taken in total. It becomes an asset from the moment the person who is leaving it to you dies, so, theoretically, if your mother were to die the day before you were discharged, they could take the money even if probate dragged on for several months. I think there may be a way in which money can be held in trust, and an income derived from the interest, though I suppose that would count as surplus income. Someone here will know much more about this than I do as several of us here have lost people recently and become beneficiaries.
Lily

localhero

Hi Purpleplumb,

The solution with your mother's Will, is for her to leave your share into a discretionary trust with you and someone else you trust as beneficiaries.

The trustees can then choose who and when to give the money to depending on your circumstances at the appropriate time.