I'm on the verge of going bankrupt

[russellt]

I'm on the verge of going bankrupt. I live with my partner and our 7 month old son. I have lived in the property my partner has a mortgage on for 3 months. I pay her a set amount per month for rent. If I declare myself bankrupt will it effect her or the property? If so what are the alternatives?

[MelanieGiles]

Hi russelt and welcome to the forum

So long as the property is in your partner's name, and you have not lived together for very long, I feel it is unlikely that the trustee will seek to argue that you have developed a beneficial interest in the property. So bankruptcy is unlikely to affect her position.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk