Who is liable for credit card debts - named person or spouse as well?

Anon

A quick question for a friend if I may. If you are married and one partner builds up a lot of debt on credit cards, is the other partner also liable for this debt (assuming it is in only one partner's name) should the debts get called in early (whihc they canot repay) or (worse case scenario) the partner make themselves bankrupt?

Many thanks

Anon

Fuffa

I'm not sure I could be wrong but I think they are both liable.

---lee---

Anon wrote:

A quick question for a friend if I may. If you are married and one partner builds up a lot of debt on credit cards, is the other partner also liable for this debt (assuming it is in only one partner's name) should the debts get called in early (whihc they canot repay) or (worse case scenario) the partner make themselves bankrupt?

Many thanks

Anon

The person who signed the credit agreement is responsible. This could be either or both of them.

If the plan is to run up as much debt as possible and then go bankrupt, it’s probably not advisable.

Xbigman

Only the person on the agreement is responsible. It can be more complicated if there are other debts in joint names, like a mortgage, but as far as any specific debt is concerned only the one(s) who signed it are liable.
Regards



X

file_wizzard

Xbigman wrote:

Only the person on the agreement is responsible. It can be more complicated if there are other debts in joint names, like a mortgage, but as far as any specific debt is concerned only the one(s) who signed it are liable.
Regards
X

Agreed, in terms of direct recovery only the person / persons who signed the original credit agreement, however if the partner went down the road of Bankruptcy or received a charging order from a CCJ then this would obviously have an impact on any “joint” assets, i.e house, car Ect ( just house in terms of the charging order)