smillion
Active Member
- Joined
- May 8, 2006
- Messages
- 904
- Car
- CLS350 CDI sport
A mate of mine (and no, this is not me I am glad to say) seperated with his wife after 15 years. The subsequent divorce is vicious, driven by the wife and her cut-throat solicitor.
Marital assets say £400k
Unsecured debts etc say £180k
Joint legal fees in last 9 months £65,000......
Her lawyer is insiting on 100% of the assets be passed to the wife with all the debt (and no assets) remaining with the husband.In additon, material monthly maintenance also payable (9 year lod daughter)
Seems extraordinary, but that is the way it is. A hearing tomorrow called FDR - no resolution likely and so goes to a very expensive (£15-20k) court hearing some months time, all of which comes out of the assets.
Mate wants to know what peoples' real lif experiences of going bankrupt. Not necessarily in theimportant first year, but post that year. i.e. practical realities perhaps of the stigma and credit history and being able to get credit; rent a house; lease a car etc etc
Basically, is their much life beyond bankruptcy for a self employed entreprenneur?
Thoughts welcome.
Marc
Marital assets say £400k
Unsecured debts etc say £180k
Joint legal fees in last 9 months £65,000......
Her lawyer is insiting on 100% of the assets be passed to the wife with all the debt (and no assets) remaining with the husband.In additon, material monthly maintenance also payable (9 year lod daughter)
Seems extraordinary, but that is the way it is. A hearing tomorrow called FDR - no resolution likely and so goes to a very expensive (£15-20k) court hearing some months time, all of which comes out of the assets.
Mate wants to know what peoples' real lif experiences of going bankrupt. Not necessarily in theimportant first year, but post that year. i.e. practical realities perhaps of the stigma and credit history and being able to get credit; rent a house; lease a car etc etc
Basically, is their much life beyond bankruptcy for a self employed entreprenneur?
Thoughts welcome.
Marc