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bankruptcy and how it affects your partner
madmardigen
Posts: 2 Newbie
Hi everyone, first let me explain ive never done this before so its all rather new for me. My partner owes money which he cant afford to pay back and i have told him to look into bankruptcy as a way out as i cant see any other solution to it, but he thinks the bailiffs will take my belongings aswell as his so wont even consider it as a way forward. Is there anyone out there that knows if a bailiff can take away possesions of a partner (were married) to the person who owes the money. (This debt is in his name only and we have separate bank accounts) All replies to this greatly apphresiated.
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Hi
The real experts in this are on the bankruptcy sub board. And it will depend on whether you are renting, buting a house, have a car etc, joint loans etc
What you do need to think off is that this will affect your credit rating as well if you are joined financially, so sort that out.
A good idea would be to stick up a SOA, see southern scouser's stickie at the top of the page, so people can advise you whether you can sort this out any other way. They will ask for it on the other board as well.
Also, OH needs to contact payplan, CAB or CCCS ASAP and discuss the options. There may be other ways of sorting it that they can help you with, but if he needs to go BR, he HAS to prove he has taken financial advice.If you've have not made a mistake, you've made nothing0 -
thanks for that, but what is a SOA and OH?? Sorry for being so dumb .....0
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OH - other half
SOA - Statement of affairs - look at the following sticky post at the top of the debt free wannabe forum for full instructions:
http://forums.moneysavingexpert.com/showthread.html?t=107280
Thanks to MSE, I am mortgage free!0 -
SOA means statemant of affairs...income and expenditure and OH means other half as in husband, wife ,boyfriend, girlfriend.People bring great joy into our lives..some by arriving, others by leaving.im trying to be one of the former, so please bear with
LOVE ME, LOVE MY NEWFOUNDLAND.:A0 -
angelavdavis wrote: »OH - other half
SOA - Statement of affairs - look at the following sticky post at the top of the debt free wannabe forum for full instructions:
http://forums.moneysavingexpert.com/showthread.html?t=107280
great minds think alike.:rotfl:People bring great joy into our lives..some by arriving, others by leaving.im trying to be one of the former, so please bear with
LOVE ME, LOVE MY NEWFOUNDLAND.:A0
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