A condition of bankruptcy in the UK is that all the bankrupts major assets (including their home if they own it) need to be sold to provide funds to pay some money to their creditors. This applies even if the bankrupt shares ownership of their home with a partner. If nothing is done the administrators of [...]
If your partner declares themselves bankrupt and you have a joint home/mortgage then clearly this is going to be a very worrying time.
The good news is that mortgages (being secured debts) are not directly affected by bankruptcy which only applies to unsecured lending (credit cards, personal loans etc.). As long as you and your partner [...]
Continue reading about What Happens to a Joint Mortgage if One Partner Declares Themselves Bankrupt
If your partner has debt problems then you need to know about it, because sooner or later it is going to affect you. Not opening their mail, or other odd behavior relating to things that are mailed can be a sign that someone is experiencing debt problems. If someone in your home is not opening [...]
Continue reading about Not Opening Mail – a Possible Sign of Debt Problems
