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is house at risk if husband goes bankrupt. house is in my name

(8 Posts)
Murphyslaw21 Mon 22-Feb-16 10:59:59

My hubby has got into serious debt around £50k.

The house is in my name and has small mortgage it was mainly paid for by my mums estate.

We want to remortgage as I could afford that the problem is he has no job. I've stopped working to look after baby. He is looking every day.

If he goes bankrupt will the house be at risk? Even though the mortgage is in my name. I can afford mortgage these are credit cards

Murphyslaw21 Mon 22-Feb-16 13:24:19

Anyone???

tribpot Mon 22-Feb-16 13:32:12

I think you need to speak to National Debtline. I think the answer is no the house isn't at risk, but you really need professional advice on this.

Could your DH stay at home with the baby if you would find it easier to get work? Sorry you're in this situation.

Doubleuponcoffee Mon 22-Feb-16 13:42:55

Him going bankrupt wouldn't affect your house but you won't be able to remortgage with neither of you having an income unless you get a decent one from your mothers estate

papereggs Mon 22-Feb-16 14:02:04

I went bankrupt a couple of years ago and house was unaffected as it was in DH's name. He should get advice from Stepchange or National Debtline as suggested. He will be asked when he goes bankrupt whether he's sought advice, it's a serious matter and he should understand all of the consequences before doing it. It was a massive relief for me though and ws definitely the right thing in my situation, and got rid of all my debts (£60k).

Murphyslaw21 Mon 22-Feb-16 14:08:31

We are going to get touch with citizens advice and see how they suggest going about it.

Thanks for your words very much appreciated.

Murphyslaw21 Mon 22-Feb-16 14:15:05

Paper can I ask did they look into just your stuff or also your wives??

papereggs Mon 22-Feb-16 16:16:24

They didn't ask about DH's finances, but they assumed he was paying 50% of household costs, so you need to split any household bills accordingly iyswim. Our situation was different though as DH was earning and paying at least half the bills, I don't know what they would do for a non-earning spouse. I think you would have to show evidence that you don't have any income otherwise they will assume you have enough to cover half the bills.

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