I am separated from my husband but unfortunately we still have a joint mortgage. This is the only thing I still have with him and he says he is filing for bankruptcy. How will this affect me as it could affect my job as I work for UK Border Agency.
First of all your job is not under threat, as it is your ex and not you who is going bankrupt. Quite frankly, we doubt your job would have been under threat even if it was you who went bankrupt, as only certain professions are affected. As to whether you keep the property, this will all come down to whether there is equity in the property or not.
If there is no equity, no immediate action will be taken, but the Insolvency Service will place a note on the land registry that restricts selling or re-mortgaging without their permission. A review of the equity situation will be made 27 months later, at which point they will give up their interest in the property if the situation is unchanged. We need to point out that you will need to maintain mortgage payments throughout the process.
Bankruptcy UK offers assistance at all levels and will also prepare and submit your bankruptcy application online. Court appearances for bankruptcy are no longer required. Feel free to call us for bankruptcy help on 01425 600129 for a chat about your circumstances.