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 With joint debts do we both have to apply for BR ?		  New Topic  Reply to Topic
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Sarah.ey
Starting Member



1 Posts
Posted - 01 May 2011 :  13:14:06  Show Profile  Visit Sarah.ey's Homepage  Reply with Quote
if me and my husband have joint debts of £10,000 do both of us have to apply for bankrypcy or can just one of us do it ?

Niobe
Administrator



United Kingdom
4590 Posts
Posted - 01 May 2011 :  13:40:34  Show Profile  Reply with Quote
Hi and welcome to the forum.

You don't both have to apply but the solvent partner will be chased for the whole of the joint debt as you are jointly and severally liable for them.

Can one of you afford to make the contractual payments for the loan?

Double, double toil and trouble;
Fire burn, and cauldron bubble.

Jan
xx
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Viki.W
forum expert



United Kingdom
2211 Posts
Posted - 01 May 2011 :  16:55:29  Show Profile  Reply with Quote
Hi Sarah,

As Jan has said, if one of you declare bankruptcy then the other one will be liable for the joint debt.

Do you have any other debts at all? There may be other options. I advise you speak to an expert to chat through your situation.



Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/
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