Debts
Even without marrying or forming a civil partnership we tie ourselves to the fortunes of our partners in many ways over time. For example, if your partner cannot pay his/her share of the joint mortgage or rent, then that responsibility falls to you. But whether you are married, in a civil partnership, or not, you are not responsible for the debts your partner incurs in his/her separate name.
Always take advice early if there
are any debts, whether from a Citizens Advice Bureau or a debt counselling
agency, or in some circumstances from an insolvency practitioner (someone qualified to handle formal insolvency procedures). Or alternatively, contact National
Debtline (free phone 0808 808 4000).
Not
married or not civil partnered
Separate
bank accounts
If
you have separate accounts, liability for any debt or outstanding
loans rests solely with the person named on the account.
Joint
bank accounts
Things
may become more difficult if you are not married or not civil partnered. To close a joint
account (just as with opening the account), banks require the consent
of both parties. If the account is not officially closed by both parties this could mean that one of you could run up an overdraft and leave the other responsible for it.
Credit
Card / Personal Loan
You
are liable if a credit card is in your name, even if your partner
is a 'named user'. If the card is held jointly, then you are both
liable.
If
you take out a loan agreement with your partner, you are both responsible
for repaying the borrowed amount.
Married or civil partnered
If your partner has debts in
his/her separate name, you are not responsible for them. Debts and
overdrafts relating to a joint bank account will be the responsibility
of both or either partner individually.
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