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| *Loan,banking and credit>>>debt loan |
Son and partner have split they have loan in joint names she cannot pay her share is he liable for her debt? |
would my son be liable for xpartners share of joint loanif she cannot pay her half They are both liable for the debt. The lender wants the money back and will not be interested in who is repaying the loan. Your son can not pay half and then tell them to get the other half from his ex partner. They both signed the credit agreement stating that they would take responsibility for the payments jointly and individually. If the loan defaults they will register debt against both parties. They are BOTH liable, but if she doesn't pay it damages both their credit records. It is not HER debt. It is THEIR debt. Both are liable for the FULL amount. After he pays the creditor, he may have a case to collect from her. The creditor can and will collect from whoever is easiest to get the money from. |
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