bankruptcyhelp.org.uk Forum - I am about to commit to go down bankrupcy route

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I am about to commit to go down bankrupcy route

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devild
Starting Member

United Kingdom
10 Posts

Posted - 23 June 2009 : 23:25:31

I am about to commit to go down bankrupcy route but wanted to know - I am the 1st named person on a joint loan with my ex (of 4yrs) Will the total amount be dealt with under bankrupcy , half of it or none of it ? ie it will fall on my ex's lap ??

Hallway123
Junior Member

United Kingdom
181 Posts

Posted - 24 June 2009 : 06:56:59

Any joint loans will become responsibility of the person not going BR and they will be chased for the money.

Niobe
Administrator

United Kingdom
4590 Posts

Posted - 24 June 2009 : 12:47:33

It will be for all of the money as well, not just half as you are both jointly and severally liable for joint loans.

The glimmer gets brighter all the time

Jan
xx

devild
Starting Member

United Kingdom
10 Posts

Posted - 24 June 2009 : 18:37:32

Thanks for that . Its one less debt to worry about and already feel bad about having to make that decision.

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