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

Wifes debt ,worried sick

Carl100 · 2019-11-16 09:20:51

Hi,thougt life was great till friends asked if my wife had money worries as she had lent £10000 from them,i paid them back but have emptied my bank balance doing it ,i confronted wife who has told me she had closed her buisiness,and has bank loans of £23000.i am worried sick and am i liable as our mortgage is in joint…

Comments

The_Real_Cheddar_Bob Posts: 542 Forumite

23 November 2019 at 11:29PM

I am not sure, but I think it is difficult to take a spouse off a mortgage once they are on there unless you remortgage... Perhaps a transfer of equity as I have done, but that was for divorce reasons.

You won't be liable for her personal loans, but you will be liable if they pursue your wife's assets. I am not sure if loan company's can take assets from joint owners, that is something that you need to look into further.

0