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 if i delcare my self bankrupt what happens
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ac7
Starting Member



1 Posts

Posted - 04 May 2009 :  14:00:59  Show Profile  Visit ac7's Homepage  Reply with Quote
if i delcare my self bankrupt what happens to the joint debts

Niobe
Administrator



United Kingdom
4590 Posts

Posted - 04 May 2009 :  14:44:11  Show Profile  Reply with Quote
Hi,

The debt would be included in your BR, but your partner would become liable for the whole of the debt as you are jointly and severally liable for it.

He/she would have to continue to make the payments or come to an arrangement with the creditors to pay it off at a lesser rate if they cannot afford to make the full payments.

The glimmer gets brighter all the time

Jan
xx
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