Can I take on my partner's debt?

Molly_George

Hello.
My husband currently has around £16,000 owing on three credit cards. The majority is with Virgin at 16.9% (£10.5k) with the remainder on Cahoot and Nationwide at 15.9%.
He is now unemployed and we have been late with a few payments and, I've just found out, missed one all together.
The debt is joint as it is mostly household / car stuff.

My question is, if I get a 0% card in my name, as I am employed with a good credit rating, can I balance transfer the debt that is currently held in my husband's name?Thank you for any advice that you can give.

dazza.mk

Yes you can, note that legally after the transfer it is your debt though, not your husbands

Plxply

Think of it as that you are literally giving your husband £16,000. If for example he leaves the day after you pay off his debts you will have no form of recourse as far as I'm aware so you would want to take this decision carefully.

ironlady2022

your credit files will be linked as you are Husband and Wife, the missed payment and the late payments will hinder you getting a 0% card. also if you can get 0% you will be looking at more than one 0% card as no company will give you limit of 16k.

jo-bo

You are only linked credit wise if you have a joint financial product together ie bank a/c, mortgage or loan. The fact that you are husband and wife is not enough for a financial connection and will not link you credit file wise

ironlady2022

Really, I always thought there was a directly link with Husband and Wife?

fuzzybear01

mayling03 wrote: »

Really, I always thought there was a directly link with Husband and Wife?

No that is completely wrong

ironlady2022

Well you learn something new everyday