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I am separated, paying the mortgage and a secured loan, hes paying nothing. What happens if he gos bankcrupt? I have had my house 26 years and he has only been on the mortgage since september 2007.
By debra b Posted on 07/03/08 Total Answers 5
Answers-
He cannot file bankruptcy without you filing also since you are still married.
Answer by : sensible_man On Date 2008-07-03 13:48:06

Run, don't walk, to a divorce attorney. This complicated and will be expensive if you don't act now. Get a court order ASAP for debts that he will be responsible for and to protect your interest in your house. Go. Now.
Answer by : raichasays On Date 2008-07-03 13:49:34

You could see all of your assets going to pay any debts that the 2 of you have run up and any extra debt that he's run up alone. I'd see a lawyer right away. You may be able to publish a notice that you won't be responsible for debts that you personally have not incurred. This won't stop any existing mutual debt, but it might protect you if he gets some new credit cards and goes on a spending spree. I'd also suggest that you cancel any credit cards taken out in both your names. L:et him get his own credit and pay for it.
Answer by : Eric H On Date 2008-07-03 13:54:59

If he is on the deeds, his share will be treated as his assets. If you are on good terms, you need his agreement to approach the lender (or if there is no mortgage than land registry) to get his name removed. You can get free advice from http://mortgagebrokers4london.co.uk.
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Answer by : Carl S On Date 2008-07-06 17:07:01

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