question category: Bankruptcy

I`ve got unsecured debt in my name only would my wife be liable if I make myself bankrupt
Submitted on: 12th Jan 2009 by Non-Member | Total Answers: 2

I have £45K of unsecured debt to 5 creditors. In my name only that I had before we got married.
I am now not working and can not afford to make the monthly payments. If I decide to declare myself bankrupt would my wife be affected in any way we have no real possesions other than a car each( both cheap) she needs her car for work I keep my car incase I get a job as we live in a village with poor public transport. We live in rented accomodation.
My wifes pay is just covering the household bills.

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Unsecured debt in my name only, wife affected

Your wife won't be liable for your debts. I am not sure whether you own a house together. If you do she may be affected so read - will I lose my house

Submitted on: 13th Jan 2009 by TA Member

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Re: I`ve got unsecured debt in my name only would my wife be ...

Only insofar as any any assets you have, including your share of joint assets i.e. your home will become bankruptcy assets.

Unless the debts are in joint names, or your wife has given a guarantee she won't be liable.

You must get some advice before you go down the route of bankruptcy.

Submitted on: 13th Jan 2009 by Darren Member

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