Bankruptcy and Separation

MYTH: My husband and I have separated and he is going bankrupt. However, I have been told I will get the house as I have our young children to bring up.

REALITY: In the event of bankruptcy, the security of the matrimonial home will be threatened and the question will arise as to whether the property should be sold to pay off the creditors. It is therefore not a foregone conclusion that you will be able to retain the house. A specialist family lawyer will be able to look at the case and advise accordingly on how best to secure a home for the children.

This text has been taken from the upcoming Exploring the Myths about Divorce and Separation, from family law firm Woolley & Co Solicitors. The book explores 101 common myths and misconceptions surrounding divorce and legal separation. Make sure you follow Woolley & Co on Twitter, as further details regarding the launch of the book will be made available on this profile: http://www.twitter.com/woolleyandco.

Further information on divorce and finance can be found on the website for family law firm Woolley & Co Solicitors: http://www.family-lawfirm.co.uk.