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Bankrutpcy

  • circus
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12 Sep 17 #496217 by circus
Topic started by circus
My husband that I am divorcing is threatening to go bankrupt. hes not paying any of his debts. (works full time)

Hes living in my flat and not paying anything for last 2 months.

What will be the implications - I want nothing from him and I owned flat before marriage.

Short marriage less than year and no kids

Please help:S

Many Thanks

  • LittleMrMike
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12 Sep 17 #496219 by LittleMrMike
Reply from LittleMrMike
The making of a bankruptcy order vests all the property of the
bankrupt in the trustee, with certain exceptions.

If he doesn't own the house, then the risk described in the previous paragraph should not happen - at least unless he transferred the house to you to avoid the possibility of the trustee getting his hands on the house.

But if he goes bankrupt then, as stated, most of his property vests
in the trustee which means, of course, that it is not available for you to make a claim against.

Going bankrupt is a drastic step which has a number of implications and legal advice should ALWAYS be sought.

Where there is a possibility of one of the spouses going bankrupt,
then it can be important to get your financial claim settled before the bankruptcy takes effect.

This is about as much as I dare tell you, beyond saying that legal advice is necessary.

LMM

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13 Sep 17 #496239 by circus
Reply from circus
Thank you!
So the divorce can still go ahead before the bankruptcy goes ahead. I was worried that it could not happen and would cause a delay of him living there whilst it went through. whilst I'm paying the mortgage camping out of the sofa at my mothers :-(

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