bankruptcy

[barnacle1234]

i want to go bankrupt due to so many debts but my boyfriend has recently moved in with me these debts were accrued before we got together will this affect him and his money as he works

[themas]

More info is needed. Are you renting or do you own your property? Are your finances entirely separate from your partner's (no joint accounts or credit cards etc.)? How much are your debts and what are they for? Are you working? If not what benefits are you getting - if any?

You could post this sort of info on the "Ask the Expert" feature of www.debtquestions.co.uk/forum/index.php3 where you should be able to get some detailed advice.

[barnacle1234]

thanks for notes themus i am in rented accomadation which my boyfriend pays for now i was on income support but came off when he moved in i now only get child tax credits all our finances are seperate and my debts are about 26000 love to have more feedback on this

[stanleyman]

He will not be affected at all. They are your debts not his and no one can make him pay them.

[barnacle1234]

thanks stanleyman that has eased my worries a bit

[themas]

You should be OK to go bankrupt without your partner's income coming into it. But you need to be very careful about how you fill in the financial details on the bankruptcy form. One of them asks what contribution you get to your income from other members of your household and you will have to put down what your partner pays - the rent, and anything else he pays for (such as council tax, gas electricity etc. if he is now paying these). The expenditure you put on the form must be only what you spend from your own income plus the stated contribution you get from your partner. For example you must put down the cost of your own and your child's food but not food for your partner. In other words you have to be able to show through the figures that your finances are still separate from his - apart from the contribution he makes.

As you are not working and on benefits it seems unlikely that you will have to make any payments at all towards your creditors, but the Official Receiver decides this on the basis of your figures and the interview he/she has with you after you are bankrupt.

As you are not married your partner's credit reference records should not be linked with yours, but it would be a good idea for him to get his records from all three Credit Reference Agencies a few months after you go bankrupt to make sure nothing about your bankruptcy has been noted.

[themas]

Another thought. Make sure you keep your finances entirely separate even after you are discharged from bankruptcy. If you attempted to get a joint credit card or loan or current account or mortgage his credit record might be affected by the association with yours.

[barnacle1234]

Thanks Themus thats a great help have been worrying since someone told me different will now go ahead