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- Mon Apr 11, 2011 1:09 pm #257583 As part of my recent divorce hearing, I have been ordered to sell the marital home, my spouse left the house 3 years ago and has refused to be taken off the mortgage or contribute to paying it. I have been struggling to maintain it, however now I have to contemplate the costs of moving I cannot continue to pay the mortgage and am now considering bankrupcy. What are the implications of this.

- Mon Apr 11, 2011 1:12 pm #257593 How much do you like her.

Because if you go bankrupt, as she has refused to get her name taken off, then any shortfall will be hers!

As you have to sell, and you are considering bankruptcy, then move out, and include the property in the bankruptcy (it will be sold, and as I have said any shortfall in the mortgage will be hers and hers alone)

Tim

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- Mon Apr 11, 2011 1:16 pm #257603 I understand I would be discharged after 12months but how long does it affect my credit history?

[JaneClack]

- Mon Apr 11, 2011 4:09 pm #257653 A bankruptcy notice sits on one's credit file for six years as does any legal notice - during the term of the bankruptcy (one year normally) you are under an obligation not to apply for credit of more than £500 without telling the lender you are an undischarged bankrupt but it certainly would get rid of all your debts including any mortgage shortfall although if there is any equity your ex would get her half.

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