If my partner goes bankrupt will I be implicated?
My partner has been on an IVA for 2 years but cannot keep up with the payments anymore so has no option but to go bankrupt really. We are not married but live together, all of our furniture, car and possesions were purchased in my name. I no longer work, I am a stay at home mum so technically have no income. We rent a house which is in a joint tenancy. How would I be affected and if we wanted to rent again would we be accepted? Im just wondering if they will still take his income into account because I dont work. He plans to have his wages and everything paid into my bank account. Is there anything I should be aware of?
He ran up his debt before we met, years ago. Everything we own has been paid for in full by me. And the reason I included the bit about the bank is for when we go to get a tenancy, I dont work but will his income in my account count?
and why the hell would he go bankrupt if I was the one in debt!? Im not completely stupid, thanks.
His bankruptcy shouldn’t affect your credit, if none of the debts he is going bankrupt on are jointly in your name. It wouldn’t necessarily affect your credit even if you are married.
Borrowing money could still be a problem, because you will usually have to do it in your name, and you don’t have income. That could be a problem with a tenancy. However, creditors and landlords are not consistent in how they treat income. Small landlords don’t always even bother to check these things.
May 8th, 2010 at 9:29 amif everything was "purchased in your name", does that mean the loans and debt are in YOUR name?
if YES, then YOU are the one who would have to file for bankruptcy, not him
what does depositing HIS wages into YOUR bank account have to do with anything?
May 8th, 2010 at 9:29 am