Can I go bankrupt?

susannah1984

My partner and I have combined and individual debt. My debt is over 20k unsecured. I don’t work as I look after our children, and I hate to say it, because it shouldn’t work this way, but financially, I’m better off not working!!! Can I apply for bankruptcy or will my partner’s earnings be seen as my income? we have searched into going bankrupt before( for both of us) but my partner pays his parents money monthly as they took a loan out for him ( in their name, not gurantor) and we were advised that his parents would have to stop receiving the monthly payments as creditors wouldn’t want them receiving and not them. Please help

kerrypn

Hi Susannah

If you are sure bankruptcy is the best option for you (please take independant advice on this) then yes you can file forgo bankruptcy.

If only you apply for bankruptcy, your husband will then become liable for your combined debt on his own. Your individual debt will be written off.

Your Statement of Affairs will ask how much a partner contributes to the household expenses, which is different to his income.

Hope this is helpful

skylight

As mentioned, if only you go BR then all joint debts will fall to your OH until such time they are paid off off or he goes BR etc.

As to his income, his contribution to the household is asked for in the IPA. But as you do not have an income (except I assume benefits like child and tax credit) then an IPA will not be handed to you anyway.

Get proper advice - Payplan or CCCS for example.