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What happens to joint debts in bankruptcy

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When you enter into credit agreements in the UK, both parties are ‘jointly and severally’ liable, which means both parties are liable for the full amount and not half each. Therefore, if one party went bankrupt but not the other, the remaining party would still be responsible for the full amount.

‘What happens to joint debts in bankruptcy’ is just one of hundreds of questions we’ve answered since we first started in 1998, but feel free to call us on 01425 600129 if you need more specific information or bankruptcy help. We are here to help.

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