Welcome to wiki I take you haven''t sorted out your finances but have divorced?
I also presume that the house is in joint names? Has your ex threatened to go bankrupt or is he actually going bankrupt?
I am no expert but my ex was "suggesting" bankruptcy & my sols advised me that if he were to do so before the Consent Order was sorted that there would at the very least be a charge on the house for his debt & that I would probably end up paying it in the end
In view of this my sols & I tied up the CO as soon as possible, I took the majour share of the debt on myself but managed to keep the house & my pension. X did not go bankrupt & I am now paying all the debts but at least we have a roof over our heads & are moving forward. X can not have a claim on me now, neither can I on him (aside from CSA).
Have also tied up my will also as want it to be protected for my boys.
I would recommend a good sols, mine was expensive but ... Now I look back I do think we got the best deal.
thanks for your reply,yes you presume correctly. ive been told the same as you by my sol,i just wonderd if anyone new of any loop holes to protect my boys. I have changed my will. I dont think he got any choice than to go bankrupt as he got debts but not working,his mobile has already been cut off.
I would try & get the CO order & financials sorted ASAP then. As soon as he starts the bankruptcy part they will charge against the house or can still put a charge on the house if the CO is part way through.
I think there is a short window where you could protect yourself, as it may also effect your own credit rating (If I remember rightly) your sols will know more.
Sorry your going through this, for my x it was mainly used as a Vauge threat more than anything, although x was always bad with money so was a possibility.