We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mum's Joint Debts with late husband
skeane1973
Posts: 14 Forumite
Hi all, I posted on here a few weeks back and got some excellent advice.
One thing I'd like to ask if anyone has any info about Joint Loans / Debts.
My Mum and late stepdad had two loans totalling around £20,000 from around 97/98, however when my mum signed the agreements she was (and still is) only earning about £300 a month (in todays money so a lot less back then). These debts turned into lots of credit cards etc which I've been able to sort.
Therefore my stepdad was covering around 90-95% of the loan value.
Is there any law with regards to levels of responsibility or is it simply joint signatures means the full debt is now the responsibilty of my mum.
Thanks in advance for any advice, I have / am in contract with debtline etc but would like other peoples experiences.
Simon
One thing I'd like to ask if anyone has any info about Joint Loans / Debts.
My Mum and late stepdad had two loans totalling around £20,000 from around 97/98, however when my mum signed the agreements she was (and still is) only earning about £300 a month (in todays money so a lot less back then). These debts turned into lots of credit cards etc which I've been able to sort.
Therefore my stepdad was covering around 90-95% of the loan value.
Is there any law with regards to levels of responsibility or is it simply joint signatures means the full debt is now the responsibilty of my mum.
Thanks in advance for any advice, I have / am in contract with debtline etc but would like other peoples experiences.
Simon
0
Comments
-
I think, though I'm not certain, that she is liable for the full amount because they are joint debts.Debts Jan 2014 £20,108.34 :eek:
EF #70 £0/£1000
SW 1st 4lbs0 -
Yes, I think if her signature was on the load she is responsible for the full amount.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 247K Work, Benefits & Business
- 603.6K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards