Bankruptcy and divorce

Myth
  Myth
“My husband was declared bankrupt before we separated. We still own the family home jointly so I risk losing it in order to pay his debts.”
Fact
  Fact
If your husband was declared bankrupt, you may find that there are creditors wishing to put a charge against the property in order to recover monies owed to them. Although they have the power to apply for the property to be sold straight away, it may not succeed if you are still resident there, particularly if you have dependant children. As and when the property is sold, money to pay your husband’s creditors can only be taken from your husband’s share of the sale proceeds.

Visit the main Woolley & Co website For more information on Bankruptcy and Divorce.

Woolley & Co Solicitors, Expert Legal Advice - Click here
Fact or Myth - Check now
Read our Blog - Click here
Woolley & co Solicitors