If he decides to become bankrupt, once discharged he'll be free to build his credit rating again. Bankrutcy says on your credit file for 6 years and will will be hard and / or expensive to get a mortgage during this time. Getting a bank account is difficult once you are made bankrupt. We hear that Barclays and Coop are good places to open basic accounts before you go bankrupt as they may not close them once bankruptcy happens. This information is yet to be verified. You can turn your bank account into your account only. Just because your loan goes into a joint account doesn't make half of the money your partners. You should be OK. Good luck.

Thank you, he wants to go bankrupt because he is sick of the headache of only treading water with his debts and especially after telling the creditiors he was in difficulty he still was not helped. He wants a clean slate and I dont blame him as with all the hefty monthly repayments finding somewhere decent to rent is difficult let alone affording a mortgage. How long after babkruptcy will he be allowed a mortgage, or will it have to be in my name?. He didnt lose his job in the end but has gone on to reduced hours but he still wont be able to meet the payments. As I said I can prove that my assets are my own, my partner has not contributed to them. My only concern now following on from what you said in your reply is that we do have a joint bank account both of our wages go in it, From this account I transferred my loan repayment for the yacht, would this be classed as him making a contribution? as my wages easily cover the payments. The loan is only in my name. We understand that the joint account will have to close if he goes bankrupt, and we both have sole accounts with other banks so we can use them.

Your possession are yours so don't be concearned. Worst case is your partner faces bankruptcy and the trustee looks for evidence of a contribution towards you assests and by the looks of things there is none.

On a more positive note it sounds like a simple debt management plan may be the answer. If you want help finding someone who could organise this go to the best advisors page and complete the form. They are quick to arrange and will usually get your creditors of your back quickly.

I've been on a Debt Management Plan for a couple of years (23k debt), things were going ok, ive been keeping on top of payments until now, my girlfriends meternety pay has come to an end so we are now just living on my income, i have just received a large vat and tax bill (11k) left over from a business i had to close at the start of the year, this has pushed me beyond breaking point. I have been advised that bankruptcy might be my best option. My girlfriend has some savings from before we met, she has never been in debt. How will my bankruptcy affect her?? We don't have any joint assets but she was going to sell her car as we cant afford to run two cars and i was going to sign my car over to her because that will make our insurance more affordable (she has more years of no claims) and needs it more than i do. Would this also be a problem if i go Bankrupt??

Any advice would be great.