who to inform

cymru1_2

a:)fternoon all,just a quick one my husband has just been made bankrupt are we by law to tell certain people ie mortgage lender life insurance and so on .

alastairq

No, the only obligation...or 'restriction' applicable in Law is that your husband [not you] has to inform a creditor if he wishes to borrow[or obtain on credit] an amount over £500.


Your mortgage lender has the mortgage secured on your property, therefore is unaffected by the bankruptcy.


If, at any time in the future, your husband applies for credit...for example, house insurance...and he is asked 'have you/has anyone living with you, ever been BR, then he is obliged to inform.

The BR will be available for all interested parties to see either on your husband's credit references [for 6 years]...or, permanently, in the London Gazette.

Also, if your husband is a Civil Servant, or employed under conditions of employment whereby the employer must be notified if BR occurred, then he should comply [or be in breach of employment contract?]


However, all these are not legal requirements, but contractual one's.

The Official Receiver now has responsibility for your husband's financial affairs, thus it is for the Receiver to notify any parties involved, or who have an interest.

cymru1_2

thanks for the info alastairq very helpfull thanks.
:beer: