bank debt

[poppytoby]

it has come to light that my husband owes the bank a sum of money from 10 years ago.this was due to getting unsecured loans and not paying them off.
as i am now his wife am i liable for the debt.

[JudgeJ]

No

[matt66]

in as much as anything that is jointly owned by you could be sold off to repay the debt...so in effect you may have to turn your assests into liquid cash to pay off the debt.

[jaffacake]

A possibility is that you will be contacted by a solicitor or bailiff acting on behalf of the creditors to collect the debt if it is still owed.

[oldhamfan]

Is this of any use? Certain rules apply but the debt may be 'statute barred'.

http://www.advice-4-debt.co.uk/limitation-act- 1980.htm

[myvesta-sean]

Hi poppytoby,
No you will not be liable for any of your husbands debts at all providing the credit agreements have been taken out soley in his name and not in joint names (ie - with yourself)

Hope this helps!

Regards
Sean
[edited by AB]