what to do?

Liquid_Stool

hi moneysavers,

i have a few questions re bankruptcy:

my wife has managed to run up debt of almost 30000 quid:eek: in bank loans, store cards, buy it now pay forevers, and credit cards, this is rather amazing because we "survive" on benefits, (we're carers for our disabled daughter). we do not own a car, a house or have any other capital. I mentioned to my wife about bankrupty as a possible way out of something we'll have for ever but, she wasn't very keen. After much pointing with a sharp stick i found the reason; she has never bothered to notify the bank or credit cards of her change in marital status, hence most of her debt (and now mine probably) has been run up in her maiden name. I also found out that she uses her maiden name for everything else, including using it for new credit aplications. She has never lied about our income or that she is a carer. She has always given correct information when asked and always notified credit cards and banks of her change of address and NEVER missed a payment. She has also cleared several outstanding buy now pay forever purchases of several £1000's.

My question is, if she does decide to go bankrupt, what does she do about never having informed the vultures about change of name? Could this be a problem? could she go to prison? (at least i'd get to watch what i want on tv:rotfl:). Also would she need to declare bankruptcy in her maiden name or married name. Finally, (and more importantly:rotfl: , would any of this affect me? We have never signed any sort of agreement jointly nor have a bank account.

Any non judgemental (save that for court) advice or observations would be welcome:T

ps: as a footnote I have just opened a bank account for her with allianced and leicester on the internet IN HER MARRIED NAME with no problem at all, everything recieved with no questions including a debit card and cheque book, the only thing she couldn't get for some reason was a credit card!

less2303

Firstly, I cant comment on wether your OH using her maiden name for everything will cause any problems. As you rightly say, she hasnt done anything to obtain extra credit that she wouldnt of otherwise received.

Onto the specific points about Bankruptcy:

When completeing the forms she will have to include details of her maiden name etc, so the two will be automatically linked. You will not be affected at all, as nothing is in joint names and it is an individual process, and the days of addresses being blacklisted are long gone. Also it is a civil offence and not a criminal one, so prison doesnt come into it.

Whether the OR would see any of her actions as reckless, remains to be seen, and she may possibly get a Bankruptcy Restriction Order which would last anything from 2 - 15 years.

The positive side is, becuase you are on benefits, you probably wont get an IPA, which means that you would get a relatively fresh start.

My main concern here is if your OH has learnt her lesson, and will take full advantage of the fesh start she would be afforded. If not, and she then gets into further financial problems, the consequences would be far far worse, and alot more difficult to rectify.

I think it would need for you to be very strong and make sure you keep up to date with all financial goings on, to ensure she isnt tempted into the black hole again!

plumduff-2

There is nothing wrong as far a im aware of your wife using her maiden name.. a woman does not have to change her surname on marriage.. I got married 18 months ago and half my things are in maiden name and some are in married name - I use them interchangeably...

Still cant get use to changing my name and is taking me some time to adjust, so I cant see anything wrong, as long as both surnames are hers and nt just a made up one..

alidadas

I went BR in my married name, most of my debt was in my maiden name as I was far too lazy to contact everyone to change it. Hasn't caused any problems - on the form they ask if you have ever been known by another name and you just pop it on there.

Not everyone changes their name when they get married anyway!

If the debt is solely in her name then it shouldn't affect you at all. If you have joint debts you'd probably be best off contacted the CAB for some advice as I'm not sure how that would work.