Questions you have before making a decision to go Bankrupt and the Bankruptcy process

Moderators: TalbotWoods, JaneClack

By rikw
#338653 Due to RBS's greed my O/h now (hopefully) considered it may be the time to pull the plug. We have 2 joint debts one an overdraft and a joint loan approxamately £2200 between them. If my O/h petitioned for bankruptcy, would they take into account the full amount or just her half share of the debt. I believe that the creditors may have the right to pursue me for the full amount, which, doesnt bother me, has my DMP is set to run until the next millenium. Has anyone had experience of this situation.
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By TalbotWoods
#338673 Unfortunately neither is the answer.

If a debt is joint and several, as nearly all joint debts are, then the entire balance will be due by the other person, if one person goes bankrupt.

So if your wife enters into bankruptcy, then as you have predicted they would chase you for the lot.

Tim