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Will They Take My Partners Belongings If I Go Bankrupt?
Question:
Hi, I live my partner and our two children, we are not married. I have just been asked to repay a loan which I have avoided for the past 4 years 20K+. I do nto work as we have two young children but my patner has a fantastic income. Everything we own is in his name and he pays all the bills. The only thing to go into my back acccount is child benfit and tax credit.
Can they asses his income if I go banrupt?
Can they take any belongings?
Can they take Child benefit?
Many Thanks
Answer:
If the debt is in just your name then it is your debt and not his.
If you were to go bankrupt, the Official Receiver will want to know all the household income to see how you are living and a breakdown of the bills and who pays what bill; your partner’s income would not be used to pay into your bankruptcy, only to see how you are living.
Child benefit cannot be used to pay into a bankruptcy and you would only pay into a bankruptcy if you had a surplus of income that exceeded £100 a month after your living expenditures.
In bankruptcy they do not come and take any personal property as it has very little value.
The only issue maybe if your partner owns his own home and you have resided with him for a number of years and contributed to the mortgage or upkeep of the property, then you may have a beneficial interest in the property.
Thank you for letting me help you.
Jon
If you have a bankruptcy question you’d like to ask, just ask using this online form. All help is free.
Source: Will They Take My Partners Belongings If I Go Bankrupt?