Questions you have before making a decision to go Bankrupt and the Bankruptcy process

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By rizzir
#243 First of all I would like to thank you for your wonderful website, it has been very usefull.
My question is that can bad debts be link to family members?
Me and My brother are twins with same date of birth but have different lastnames. We both lived at same addrress for 10 years then about 2 years ago i relocated to another town becuase of my job. Now i am registered on my current new address with my banks / Creditcards / Bills / Local Voted Register etc...
Recently i found that my brother has debt of around £30K and he has left country. I have requested both of our credit file from Experian and Equifax which shows there is no link between us, as in Name or address or Vote/Poll address. Can you please advice would my Brother's bad debt can effect me in any way or linked to me? Do I have to declare something to avoid any problems? Also whats will happed to my Brother's unsolved Debts since he has not decalared Bankruptcy. thank you for your advice...regards riz
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By Nicky
#246 Hi riz

As you can see from your credit file, you have no association with your brother which means there is no link between you. Therefore, your brothers debt should not effect you in any way and you dont have anything to declare to anyone.

As far as what happens to your brother with his debt, it would depend whether his creditors caught up with him wherever he was, it might even be if he ever moves back into the country, his creds could catch up with him at a later date. As long as you have not stood as guarentaur (spelling) for any of his debts and they are in his name only, his debt does not affect you at all.