call our free bankruptcy helpline on:
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My partner is telling me he has to go bankrupt and I am worried as he has been paying the mortgage on my property for the past few years.
I bought the property before we were together with my own money, but since having children together I have not worked full time and he has paid the mortgage.
Will they take my house if he goes bankrupt?
Owned a business as a sole trader and have massive debts form the business and personal totalling 50K
My wife and I own a property together, both on the mortgage with a value of 238K, mortgage remaining is 100K
I want to give my wife the property or my share of it and then go bankrupt as I can no longer afford to trade and have a paye job elsewhere.
If you have a serious debt problem, bankruptcy can free you from your debts within 12 months. As a solution for dealing with serious debt, bankruptcy is a last resort. Other debt solutions need to be explored first, to help determine if bankruptcy is the right debt solution for you.
Your financial affairs are put into the hands of an Official Receiver or Trustee, who will control all your assets - and if you own a property, this will also be included. These will be sold and the money used to pay as much as possible to your creditors.
There are consequences to bankruptcy which will affect your finances and work life. You may struggle to borrow money, for example, and will not be able to apply for certain jobs.
For some, bankruptcy is the right option and will put an end to pressure from creditors. Our team of experts are on hand to advise on the best solution to your debt problems - call now on 0800 002 9951.