Hi - after advice please and where to begin. Husband and I seperated nearly two years ago but have not yet made things formal with a divorce. We have one child and things are amicable.
He has advised me he wants to declare bankruptcy as he has mounting debt end thinks he will be unable to pay. I am worried if he declares bankruptcy before we are officially divorced, I will be linked and impacted somehow? We have one joint property together that we are unable to sell.
Will I be impacted by his bankruptcy if we are not divorced when he does it?
Will I be impacted if we are divorced and he declares bankruptcy?
Where do I begin?
Advice greatly appreciated - thank you!
3 Replies
You start with a divorce lawyer! They are the only people who can give you any advice on this.
I agree with the previous comment on this. You need to speak to a lawyers that specialises in family law. Things change if you do get a divorce. You only have 12 months to settle financials so don't divorce him until this is settled. I'm sure that a property in both your names will be impacted should he declare bankruptcy.
Without knowing your specifics i am bankrupt and married my husband is not effected at all.
However i ended uo bankruot because i was joint borrower in a property with my mother. She declared bankruptcy and the full amount of the loan was rhen my responsibility. i had no choice but to then declare bankruptcy. There were other joint debts with her they All fell on me. And not half of the amount all of it. So no his declaring bankruptcy may not effect you but it will of the debts are joint (you both signed for it) and you cant afford them