Bleed old partner turning red? (6)
I believe the answer is:
extort
'bleed' is the definition.
(I've seen this before)
'old partner turning red?' is the wordplay.
'old partner' becomes 'ex' (an ex-partner).
'turning' says the letters should be written backwards.
'red?' becomes 'trot' (I've seen this before).
'trot' back-to-front is 'tort'.
'ex'+'tort'='EXTORT'
(Other definitions for extort that I've seen before include "Milk" , "Unjustly oblige to pay" , "Obtain (money etc) by force" , "Obtain money by force or threat" , "Compel to pay" .)