Is new spouse liable?

gypmaster

Hi there peeps!

My first post so go easy ...
... looking for some legal advice regarding debts of around £35k.

£25k was accrued in PG's with a High Street bank for a busisness venture, each director jointly and severally liable etc. another £10k accrued in loans etc. with another high street bank.

I sold my house four years ago and planned to nip off to spain, spend the cash then come back and declare bankruptcy ... that was the plan, naughty? maybe ...

question is ... things didn't go to plan and the person that bought my house and I are now thinkiong about getting married (!!) ... would the previous creditrs have a claim on the house through me (even though I'm not on the deeds or anything) due to marriage?

clear as mud????

hope someone can help

magyar

Well, I'll leave the moralising to others....

I assume you didn't actually declare bankruptcy then? And that your spouse-to-be is in no way involved with that business?

You don't say what you intend to DO about these debts. Are you still planning bankruptcy?

gypmaster

It's not moral guidance I'm looking for here, it's more of a legal nature.
I didn't declare bankruptcy and my spouse-to-be had no involvement with the failed business.

anyone know what, if anything, the new-spouse's liability might be?

btw the 'sell-up-and-enjoy-spending-the-loot-then-declare-bankruptcy' scenario was suggested/endorsed by a couple of insolvency practicioners ...

rog2

The legal position is quite clear - the rest may not be - If you do not have any beneficial interest in the house, then it cannot be taken in settlement of your debts or included in your 'estate in bankruptcy'.
Equally, unless you are financially linked with your partner- eg joint debts and/or bank accounts, then no creditor can pursue your partner for any of your debts.
Hope this helps.