bankruptcy

[simonruss]

what are the real implications for becoming bankrupt?

[Kathyan]

This may help

http://www.insolvencyhelpline.co.uk/bankruptcy /what_is_bankruptcy.php

[simonruss]

thanks, would going bankrupt affect the employment of anyone I later married?

[Buenchico]

Kathyan has provided a useful link. However, please allow me to supplement it with this one (which is from the Government's Insolvency Service):
http://www.insolvency.gov.uk/bankruptcy/whatis bankruptcy.htm

I've been trying to think of any circumstances where your personal bankruptcy could affect the employment of a future spouse. They are extremely limited. However, the credit rating of any spouse, partner or family member living at your address would almost certainly be affected by your bankruptcy. This would not normally have any effect on their employment. However, those who work in financial services are often only employed subject to them maintaining their credit-worthiness. (For example, I've recently seen advertisements for call centre staff - working for a bank - stating that all applicants will be subject to credit checks). If your future spouse (or anyone living at the same address as you) works in financial services, it might be worth keeping this in mind.

Chris

[shomer42]

Anyone living with you is not affected by your bankruptcy, unless you later apply for a joint mortgage, then your details will emerge.

Anyone living with you will not have their credit rating adversely affected, only you.

Do look at the Governments insolvency.gov.uk website.

[simonruss]

thanks all, been a big help.