Responsible for very STBXH if he goes bankrupt?

[user1497607114]

Fairly difficult situation with my ex (decree absolute is 6 weeks away) as he has lots of debt. I really think bankruptcy is a possibility but although we have no shared debt, house is mine and he’s not on deeds, electoral roll etc - I’m worried if it happens before decree absolute that I might be implicated. He hasn’t lived with me for over a year but I’m still worried. Anybody had any experience of this??

If he is about to go bankrupt then he must have debts and as you are married then they are shared debts. The house is a marital asset and so will have to be offset against those debts.

Have you been using a lawyer, you will need to get your financial settlement sorted asap.

I think you need legal advice on this. Even if he agrees that he doesn't want a part of your house or assets, the official receiver may consider that he has deprived himself of assets. How much equity is in the house and how long were you married?

I’ve already bought him out and it was a fair sum (half of equity) plus we’ve already agreed a clean break settlement. We were married for 20 years and I supported the family for the majority of the last 10 years. The lump sum I gave him has gone and he has no assets that I’m aware of.

we’ve already agreed a clean break settlement
When you say 'agreed' I assume you mean legally signed sealed and completely delivered. In that case you are fine, your finances are legally separated.

Apply for financial severance. Costs £70.

It is with the solicitor at the moment but I am sure they said I need the decree nisi (coming this week) before it can be finalised. I just want it all over and done with as the last 18 months have taken a bit of a toll.

In that case I would just make sure that you have documentation that shows you made the payment. he will probably have to explain what he did with the money if it's a significant sum.

Great - thanks for the advice. The solicitor sorted the payment so feeling a bit more hopeful!

Can't remember what it was called but I was worried about this with my ex (though I'll never know what the real situation was or whether it was a game of his) but I did some sort of financial separation declaration, i think through experian. Aims to protect your credit record.