Ex's Bancruptcy ... will it affect me?

enemes

Hi ... hope you can help me on this issue of bancruptcy. I'm not too familiar with it, so any advice would be welcome.

I have just learned that my ex is applying for bancruptcy. Fair enough, I thought, that's her business. However, it has been suggested to me that any joint debts we had, will now automatically fall into my hands! So while over the last few years I have been paying off a minimal amount to keep them from my door ( she has never paid anything, and was happy to watch me be muggin's!) I now believe that I will be liable to the whole amount.

Can you confirm that this is indeed the way it works?
And if so, what would be the best solution for me right now?
Thanks.

mysterio_2

Any joint debts once she goes bankrupt will unfortunatley fall to you i'm afraid so yes you'll be liable for the debts....

have you spoken to any of the debt helplines for advice?

• Consumer Credit Counselling Service - Website: CCCS Telephone: 0800 138 1111
• National Debtline - Website: National Debtline Telephone: 0808 808 4000
• Citizens Advice Bureau - Website: Citizens Advice or visit your local CAB centre (find nearest)

enemes

Thanks for that mysterio ...

So, basically, if all those debts are passed on to me ( half of which are mine, anyway), could I then be cunning enough to hold on to those debts long enough, so when she has come out of the other end of her bancrupcty, I can then apply for bancruptcy, and the debts would fall back to her?

Will I be informed by her administrator before she goes bancrupt, and be in a position to 'object', or will I only learn about it afterwards?

Thanks again.

Jaynee123

I hate to make rash judgements but you sound like a right s***!

Jaynee123

tigerfeet2006

enemes wrote: »

Thanks for that mysterio ...

So, basically, if all those debts are passed on to me ( half of which are mine, anyway) You will only be responsible for those that are joint, as you signed a joint loan so you are jointly and sevrally responsible for them, could I then be cunning enough to hold on to those debts long enough, so when she has come out of the other end of her bancrupcty, I can then apply for bancruptcy, and the debts would fall back to her? You can petition for BR at any time but once she is BR then she is not responsible for any debt and it is an offence for her to pay them at any time.

Will I be informed by her administrator before she goes bancrupt, and be in a position to 'object', or will I only learn about it afterwards? I don't think you will be in any position to object. The only ones who can are the creditors. If the judgesay she is insolvent then that is usually it.

Thanks again.

Get yourself some advise from the debt charities and see what they say about your situation. They may suggest you go BR as well.If they do suggest BR then we can help you through the forms etc. If they suggest a DMP then get over to the Debtfree Wanabe board and get help with your SoA and suggestions on how to make extra money and cutting back to clear it a s quickly as possible.