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Whose Debt Is It Anyway?

My wife and I in the midst of trying to pull ourselves out of the hole. Whilst going over our accounts it occurs to me that the only 'problem' debt we have are 3 CCs. All of these are in my name and I was the sole applicant. Our mort. and personal loan are joint.

Does this mean anything in the grand scheme?

Comments

  • RAS
    RAS Posts: 35,254 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    is the loan secured or unsecured?

    How much are you talking about?
    If you've have not made a mistake, you've made nothing
  • It means that legally you are responsible for the debt and that if you default they will come chasing you for it.
    No matter what happens to your marriage you will always be responsible. It is your debt.
  • The personal loan is unsecured. Our marriage is rock solid, never been better, that wasn't my point. Point is, if I do a DMP, do I have to take into consideration her income etc, as it's technically NOT her debt?
  • If the 3 credit cards are in your own name only, then your details are the only ones required to start a DMP in your own name.
    Donedoingdebt Lightbulb moment January 2000. Debt at highest approx £102,000. Debt now (October 2009 - absolutely fork all!!!):beer:
    CSA case closed on 02/09/10 :beer::beer:
  • If the 3 credit cards are in your own name only, then your details are the only ones required to start a DMP in your own name.

    Eureka! I think we may have our solution.
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