Advice for partner of someone about to go bankrupt

mw1

Hi

My partner,who I've lived with for two years, is about to go bankrupt with around 20K+ of debt. We don't have any financial associations other than a closed joint account. This was opened Feb 2006 and closed around April 2007 (details from credit report). There were no defaults etc from this and it was a bill account for the household. I'd like to get this taken off my record. Can I do this and can this association go against me for future matters eg mortgage/loans etc? I hope I'm right in thinking that his bankruptcy won't affect my status?

We have a shared tenancy and I'd like to get this into my sole name to avoid any trouble from our landlord (agency). Is it possible to close a tenancy due to this? He has tools for his trade though - could they be counted in the process with the OR to reclaim some of the debt?

He's currently off work due to depression and has recently taken an overdose... With these factors would it be possible to avoid any kind of IVA as an alternative which may be suggested? He's defaulted on cards and has received payment slips for payments but isn't likely to use these. He's not said to anyone that he plans to go bankrupt.

I've read lots of posts which have some good advice, but any suggestions would be very welcome.

Thanks!

Conor_3

No you can't get it removed. You could file a notice of disassociation with the credit reference companies but only if you have no joint financial interests in anything.

If you're a couple then when applying to buy a house, usually the mortgage companies want both people to be applicants. Remember that the mortgage you'll be allowed will only be based on your income as a sole applicant.

Tools needed in the course of a trade are usually exempt.

pinky2810

yes it will affect you i live with my partner everything in his name we did have a joint bank account the same as you and also a separate one each, we closed the joint one down 6 months brfore i went B/R , he has never owed any money in his life and has 3 credit cards , he applyed for another one just after i went B/R and was refused , he also owns the house in his name now they are trying to take it away from him saying that i have paid into the household goods and towards the bills so even though im not on the morgage i have an intrest in the house so they have a right to sell it and claim 50% of the equity. this has caused us so much worry , and stress, he tried to sign for a new car last week and was refused that as well , so now me doing that has blacklisted him as well