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Advice needed re husbands BR please
starryeyed_2
Posts: 20 Forumite
My husband is considering going BR due to debts from his business, approx 18k owed to bank, 11k VAT owed and 10k to other creditors.
He closed the business and the bank account about a year ago. He has been technically unemployed since but never signed on for benefits etc. His main income in the last year has been from cash jobs and some payments from people he did work for have been made into my own seperate personal bank account, totalling over the year approx 6k. I have a fairly good salary 35k, own the house on my own, everything in my name for last 12 years. My salary has mainly supported us for the past year. He is about to start a job soon, paying tax etc.If he goes BR will they look into MY affairs, bank account etc to find out how he has supported himself in the past year?? Im really worried as I think they will say I could pay the debts ??
All your advice id appreciate, thank you
He closed the business and the bank account about a year ago. He has been technically unemployed since but never signed on for benefits etc. His main income in the last year has been from cash jobs and some payments from people he did work for have been made into my own seperate personal bank account, totalling over the year approx 6k. I have a fairly good salary 35k, own the house on my own, everything in my name for last 12 years. My salary has mainly supported us for the past year. He is about to start a job soon, paying tax etc.If he goes BR will they look into MY affairs, bank account etc to find out how he has supported himself in the past year?? Im really worried as I think they will say I could pay the debts ??
All your advice id appreciate, thank you
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Comments
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No, they won't look into your affairs however they may think he has an interest in the house.
They are his debts not yours so you would not be expected to pay for them.
:j :j
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Was your husbands business LTD? As if the debts are in the LTD companies name and not yours he has less to worry about and the creditors can only then chase the company and not you husband.:cheesy: K2nga :cheesy:
BSC Member 176
BR 23/06/08
ED 22/01/09
Credit file BR fall off date: 24/06/14 :beer:0 -
Thanks both for replying so quickly on a Sunday morning!
No his business wasnt ltd, he was a sole trader so liable for the debts himself.
Ive owned the house for 12 years on my own, and have only been married to him for nearly3 years, so do you think they will still think hes got an interest in it?
Will they want to know how he has supported himself over the past year?
sorry about this, but havent got a clue! thanks0 -
They will want to know what he's done for the past year however it isn't unusual that he was supported by his wife. That will also prove he has less interest in the house plus the fact that you have owned it a lot longer than he has lived in it should all go in your favour.
:j :j
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