How will H's bankruptcy effect me?

[NosyRosie]

We're separated but have a joint mortgage (which I'm trying to get into my name only) and joint name on his business debts.

He told me last night he needs to declare himself bankrupt.

How will this effect me? There's no guarantee the mortgage company will let me take it on myself and the business debt is with Metropolitan which is the debt collections part of HSBC. Will they remove my name?

TIA

You need to see a divorce solicitor as soon as possible. Your situation will need complex attention/advice, eg whether you challenge his application for bankruptcy, and your precise interest in the property.

A friend's ex has just declared bankruptcy and she has had the same problem, a joint mortgage. As soon as he was made bankrupt the entire mortgage debt becomes hers because the bank was no longer able to collect it from him. The bank did not reassess affordability and as long as she keeps paying she will have no problems.

How they treat the business debt will depend on how it was set up and how it is secured. I suggest you speak to a financial expert as well as a family lawyer.