Bankruptcy.....?

[gazza1102]

I've recently been sacked from my job. I have various unsecured credit card debts and a mortgage. The credit card debts are in my name only and the mortgage is in joint names with my wife.

If I make myself bankrupt where do I stand with the house and the mortgage on that house.

[Buenchico]

The Insolvency Service (which is the government body which deals with bankruptcy) has a leaflet which answers your questions. It's available as a pdf document, here:
http://www.insolvency.gov.uk/pdfs/guidanceleaf letspdf/home.pdf

There are further leaflets in the series which might be useful to you. They can be downloaded from here:
http://www.insolvency.gov.uk/guidanceleaflets/ guides.htm#Information%20about%20insolvency%20 procedures

Chris

[DanFlo]

If the mortgage is in joint names, i assume the house is jointly owned. Your house will be considered as an asset and used to settle creditors debts, so be prepared to lose it.