IdaInFife Many thanks, that really does help to clarify in my mind what i have been thinking! I tried to offer an assignment of lease and keep paying rent for the premises until re let today, but the landlord wants half the costs up front the rest on completion. They did not seem to get what i was saying....i have no more to put in, the option is you get nothing from next week. Tried the decent thing with suppliers as well, in asking for a few months of leeway, with a reasonable payment being made weekly and new stock purchased upfront, got bad responses.....straight to ccj in general. So they will get next to nothing in the end. It is a shame really as we kept lines of communication open with all, but after a 1st CCJ to my wife we had nothing to gain by keep paying out of my pocket as credit shattered for her anyway. Many thanks for your assistance again, i will have a look around the boards and help others where ever possible in areas that i am more keyed up. Kindest Regards

Thanks for your reply Idainfife I was not aware of the linked issue. Although no agreements or credit is in joint names now or in the past? The deeds are in my brothers and my name yes, we have currently no secured debt at all. We have been married a little over two years, the lease was taken on 18 mths prior to marriage. Wife has not earned enough to feed herself, overall i have put in each year more than she has drawn out, shown in accounts. I had a bit more of a read and found discussions on beneficiary interest. I am thinking that in reality no money has been put into the house or household upkeep from my wife, which will exclude the house as an asset. The house has cost me more money than the asset (falling market and stung for a roof missed on survey). Again i picked up 80% of this with the rest borrowed from family of mine. The only linked financial interest is a joint account, no overdraft, opened 6 mths ago. No break clauses in the agreement, it is watertight Thanks for your thoughts so far, really just trying to keep ahead as this could very easily run away. the business is losing near enough 800 per month. thanks steveo1

Hello all, i have tried a search through the forums prior to my first post here, so i hope it is not a repeat or common question. First the background. My wife has a small business (sole trader). This was started and lease signed for a rental place prior to our marriage and house purchase. The property (our home) is my property, currently in mine and brothers name, as he lived here initially. Business has been bad, i have been chucking money at it for my wife during the past 3 years, in order to keep it going forward. The recent slump has impacted both on my wife's business, and my work. I need the money i earn now for keeping the roof over our heads etc. Separate to this issue the house is on the market, as i am moving for work. My wife has 2 years to run on the lease @ 11k per year and has outstanding 4 k of business debt to wholesalers and 5k outstanding to credit cards. Currently she has no asset at all. The car is mine in my name and i take her in to work as we work close together in the city. The million dollar question is, if she opts to go through the sequestration procedure, will the equity of the house be called upon? On paper there is 60k of equity. But i owe out 25k for works done to get it to sale standard over the past 9 months (work moving has forced my hand). My family member who has lent me this money may consider making a charge for the cash on the house, which i agree to. Of course my brother and i split the last little bit after fees. It is the lease that is the issue, all other bills i could in theory deal with over 6 months. But we don't want to pay everything of and she still get forced into bankruptcy for the lease, we would lose and lose again from my perspective. We Apologise for the long 1st post. Kindest Regards