Thursday, April 22, 2010

Bankruptcy and Divorce Double Trouble

There is a big difference between £400 million and zero, the varying estimates of Mr Young's worth. Mrs Young is divorcing him and he has now been declared bankrupt as reported in The Daily Mail . This must emphasise that timing is the key and how life can change dramatically.

The most obvious signs that your partner is in financial difficulties are:

1. A lot of credit cards
2. A request to remortgage
3. A lack of mail as it has been redirected elsewhere to avoid detection.

Some people pretend to be working when they are not and pretend to be financially successful when they are not. The shocking discovery of a lot of debt puts a strain on most marriages. The advice for people forced into this situation is to get out as soon as you can. By doing so it is possible to limit the financial damage.

1 comment:

Lionel Blair said...

bankruptcy and divorce is a package. there is a bankruptcy, there is a divorce.