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Will my wife lose her job as a bank manager if I go bankrupt |
Submitted on: 29th Jun 2009 by Non-Member | Total Answers: 1
My wife is a bank manager for a large national bank and I have several businesses. One of which is close to bankruptcy. Will she lose her job if I’m declared bankrupt or will it count against her? Will disclosure help? I have separate bank accounts,c ards and isa's but we have a joint mortage! We have little equity in the house as its interest only. She has isas and savings in her own name.
Re: Will my wife lose her job as a bank manager if I go bankrupt
When you say one of your businesses is close to bankruptcy, do you mean a limited company? Are you going to put it in administration or wind it up? Who is going to declare you personally bankrupt? Do you have a large amount of personal debt?
As far I know there shouldn't be any impact on your wife's job unless she incurs court judgments herself. Credit Ratings are attached to individuals rather than addresses. If she has given a personal guarantee for any of the company debts that could have implications as could any joint debts you have.
If you are made personally bankrupt your home could be at risk. You should get some advice from a local insolvency practitioner or click on my name and email me at Debt Advice Foundation.
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