My Boyfriend is going Bankrupt, how will this affect me?

Bankruptcy_Help

Hi All,

I just wondered if anyone on here has been in the same situation and can shed some light on what happens when your live-in partner goes bankrupt?

My partner has been living with me for 6 months and has decided to go bankrupt. He isnt on the tenancy (it's in my name only) Will the courts still want to see the tenancy agreement or not? I'm a little worried as the person I rent off is a close friend and I really don't want them to find out! Also the tenancy isnt even signed as we did it via email and she lives in New Zealand! The contact on the agreement is a family member of hers I dont want the courts contacting them to clarify the tenancy so then my friend finds out!

Any advice would be greatly appreciated! Thank you.

debt_doctor

Hi,
It used to be that the only real reason a tenancy was looked at was to see if there were any arrears. Your boyfriend does not have a tenancy (he is an 'Excluded Occupier') so cannot be in arrears.
In more recent times, and following some events of 'bankruptcy tourism' more focus is upon establishing COMI - Centre of Main Interests.
This is because in a minority of cases, bankrupts (from abroad) claimed the were living in England and Wales as their 'COMI' but in fact were not, but claiming bankruptcy here as the regime was more harsh in their own country.
The tenancy doesn't prove anything in regards to your boyfriend, so I doubt any interest in it, but he may have to provide (like all bankrupts) evidence of living in the country.
DD

debt_doctor

......also, do you have any joint borrowing or joint bank accounts with your boyfriend? If not, great. If you have, then this will create an association for the credit reference agencies and may affect your credit rating.
DD

downhillfast

debt_doctor wrote: »

......also, do you have any joint borrowing or joint bank accounts with your boyfriend? If not, great. If you have, then this will create an association for the credit reference agencies and may affect your credit rating.
DD

... and more importantly will leave you liable for the debt on any joint borrowing/accounts.

philnicandevan

Double check your credit files a little later down the line while BF is bankrupt, my OH had an M&S credit card they had created a financial link with me despite her only having a card running the account etc..I never used or asked to be added!