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Creditors and joint debt
iquit
Posts: 1,939 Forumite
I was just wandering what happens when joint debt is included in a bankruptcy order. From previous threads/posts I've worked out that the non BR person becomes liable for the full amount. Does that then mean when the OR is divvying out the proceeds from IPA these creditors are excluded as they will pursue full amount from other debtor?
2019 MFW No. 74 £13700/£30000 (45.66%)
12k in 2018 No. 98 £6274.19/£18000 (34.85%)
BTL (start) £97440.00 (current) £68000.00
Residential (start) £275000.00 (current) £268000.00
12k in 2018 No. 98 £6274.19/£18000 (34.85%)
BTL (start) £97440.00 (current) £68000.00
Residential (start) £275000.00 (current) £268000.00
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Comments
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iquit, as far as i am aware yes the full amount is liable from the joint person so they are not included in the bankruptcy so to speak.
EBD
BR 04/03/2009 ED 03/09/2009 BSC #262'Out of the Dark and Into the Light'0 -
So does that mean my IPA will be shared between the OR and my sole account creditors, whilst my joint account creditors are told to go hunt for my fugitive ex? Makes me feel a bit better.2019 MFW No. 74 £13700/£30000 (45.66%)
12k in 2018 No. 98 £6274.19/£18000 (34.85%)
BTL (start) £97440.00 (current) £68000.00
Residential (start) £275000.00 (current) £268000.000 -
Once the OR's fees are taken from your IPA then yep...any joint debt your Ex will be fully liable forFriends help you move. Real friends help you move bodies.
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