Bankruptcy and Marriage?

Question

Hi

I have been asked to look up some information for a friend of mine who wants to Bankrupt themselves but they are married and are not sure how their partners income would affect it.

I cannot find any information anywhere can anybody help?

Thanks

Answer 1

Why do they want to go bankrupt? Is it because he wants his debts wiping out? Tsk, tell him to pay his d**n bills and if he can't then he should go to the citizens advice bureau. I'm sick of people who rack up huge debts without a thought of how they're going to pay them off. Irresponsible, thats what it is.

Answer 2

i would tell your friend to think long and hard about declaring himself bankrupt.

It is not the easy get out so many people think it is.

I would advise him to go through his finances with a professional.

There has to be a way out other than this.

Bankruptcy is supposed to be off your record after so many years but is is not.

I have an acquaintance who was made bankrupt 8 years ago and still it crops up.

Does your friend want to be black listed?because techically this is what e will be doing to himself and his partner.

Answer 3

The best people your friend could ask is your local Citizens Advice.

Answer 4

Because they are married then her income would affect the bankruptcy and any repayment arrangements would be based on her income too.

I am pretty sure this is the case but the laws might have changed since i worked in this division a few years ago.

You can always give them a ring to discuss this option.