How does bankruptcy affect my new partner?

mr_affable

Hi all

Hopefully going to be moving in with my new partner soon. She owns her house with no mortgage. I have debts in my sole name of £36,500. Having looked at all my options over the past 2 years and taken advice from citizens advice I have concluded no option but to file for my own bankruptcy.

Would anyone be able to advise whether this would affect my partner and also how I would present my statement of affairs eg do I include all household billsand partners income?

Help needed - thank you!

mel12

Hi,

Statement of affairs - you should include all household expenses and put the amount your partner contributes to them rather than her whole income. This should be proportionate to how much you both earn - eg if she earns 60% of the household income she should pay 60% of the household expenses. The OR won't take your partners income, but they will take into account her contribution to expenses when working out how much surplus you have to pay towards an IPA.

Credit rating - so long as you're not financially linked (no joint debts or accounts) her credit rating shouldn't be affected. Your credit rating would make it more difficult for the two of you to get a joint mortgage together in future but it doesn't sound like you need one


I can't think of any other ways it could affect her.

mr_affable

Thanks for that - i will post some figures for my statement of affairs - presumably I cant include a figure for 'rent' ?

sugarcathy

How many peoples in England are bancrupted? What will happen if you regist yourself as bancrupted? It would be interesting to know. Thank you for the info