bankruptcy

[saintpeter48]

if i go bankrupt i know i will lose all of my bank accounts, does this include a joint account that i have with my wife and are her incomings/wages taken into account when i apply for bankruptcy.

[Buenchico]

All money in a joint account will be claimed by the Official Receiver. It's then up him to decide how much of that money should be released to your wife:
http://www.insolvency.gov.uk/guidanceleaflets/ bankaccount/bankaccount.htm

You can find further information about bankruptcy here:
http://www.insolvency.gov.uk/bankruptcy/whatis bankruptcy.htm

If you do decide to go down the bankruptcy route, it's likely that you'll need to know which banks will allow you to open a new account with them. (There aren't that many). So you might find this useful:
http://www.theanswerbank.co.uk/Law/Question416 508.html

Chris

[saintpeter48]

thanks very much chris.

[123paul]

If its a joint bank account it might well be treated as other joint property, such as your home, i.e., you and your wife have an equal joint undivided share, which could become severed on your bankruptcy. Your trustee might argue that you should 1/2 of what was in the account at the time you were adjudged bankrupt. However, if in truth the money was yours & your wife was a joint account holder for convenience then the trustee might lay claim to all of it. Equally, if it was your wife's she could run the same argument.