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Some of you may have seen another post about a family member. This is a continuation of that sad tale.
Man has debts of almost £100k. He incurred these debts without spouse's knowledge. One set of debts was used to buttress his then-failing business (since defunct) and another is a mortgage on a BTL property he bought without his spouse's consent. His wife owns the marital home and has historically been the main breadwinner. Wife is currently unemployed but paying the mortgage and half the family's expenses through her savings.
To be clear: debts are in the man's name only. House and most assets are in the wife's name (who in fact paid for them.) Does anyone know whether banks (and debt collectors hired by them) can barge into their house and start walking away with wife's assets? She quite understandably doesn't label all her assets. (Who does??)
Man has debts of almost £100k. He incurred these debts without spouse's knowledge. One set of debts was used to buttress his then-failing business (since defunct) and another is a mortgage on a BTL property he bought without his spouse's consent. His wife owns the marital home and has historically been the main breadwinner. Wife is currently unemployed but paying the mortgage and half the family's expenses through her savings.
To be clear: debts are in the man's name only. House and most assets are in the wife's name (who in fact paid for them.) Does anyone know whether banks (and debt collectors hired by them) can barge into their house and start walking away with wife's assets? She quite understandably doesn't label all her assets. (Who does??)
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