Bankruptcy and spouse

nightnurse59

If I declare myself bankrupt does it have an effect on your spouse in any way at all, are his earnings etc taken into consideration, I am desperate and at my wits end, anybody know, Cheers

Conor_3

IF there are any joint loans, the repayment becomes her responsibility. If you have a house you own, you need to secure the ORs interest otherwise you can lose it. If she is financially linked, which she will be, it'll hammer her credit rating.

Her earnings are taking into consideration when working out how much YOU have to contribute towards a BRO, in so much what percentage of the household running costs she contributes towards. Any savings etc in her name aren't touched BUT if you're thinking of transferring assets to her in the 12 months before you bank, the OR views this very badly.

fermi

Conor wrote: »

Her earnings are taking into consideration when working out how much YOU have to contribute towards a BRO, in so much what percentage of the household running costs she contributes towards.

I assume you mean IPA/O Conor. I only mention it because it could panic the OP if they look up what BRO means.