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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Law
Satisfied Customers: 5820
Experience:  Dual qualified Solicitor and Attorney
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I have a question regarding bancruptcy, leicester, we are on

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hi, i have a question regarding bancruptcy
JA: Where are you? It matters because laws vary by location.
Customer: leicester
JA: What steps have you taken so far?
Customer: we are on fda
JA: Anything else you want the Lawyer to know before I connect you?
Customer: no
What is the query please?
Customer: replied 6 months ago.
Hi Jeremy
Customer: replied 6 months ago.
I have a very complicated divorce case with my STBX. We had 3 court hearings so far, we have a joint business where he is not attending for the last 18 months, we have 3 houses in joint names and now he stopped withdrawing the money to pay his bills and saying he will go bancrupt
Customer: replied 6 months ago.
the question is, will it affect me? he took the loans since i filed for divorce not before. He still withdrawing money for things like going to Tenerife for holidays but doesnt pay the bills like his car or loans
Customer: replied 6 months ago.
i am the one who was running the business for the last 18 months and raising our daughter
Customer: replied 6 months ago.
paying for 3 mortgages and some bills, as all bills on his name. He lives in our other house (3 bed, we used to rent it out before) and i live in the family home
Hi thank you for your message, if he declares bankruptcy it will affect you I am afraid. That said you can take steps to insulate yourself from the affects for example regarding the business if this is a limited company you may want to think about his removal as a director or even removing him as a shareholder of the business. This will be difficult if there are only two directors him and you but it may be possible.
Regarding the houses you need to check they are held as tenants in common not joint tenants so that any claim of creditors will be against his half of the property not the whole.
Whilst in the divorce proceedings you need to make clear to the court that his financial difficulties stem from his own financial mismanagement since the seperation and your rightful share of the joint assets should not be reduced because of his recklessness.
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