Joint debts: what you're really liable for

If you have a joint debt, you need to understand a concept called "joint and several liability." It could leave you responsible for far more than you expect.

What is joint and several liability?

When you take out a joint debt (joint loan, joint mortgage, joint credit card), both parties are responsible for the **entire amount**. Not half each — the whole thing.

This means if your joint debtor stops paying their share, the creditor can pursue you for 100% of the remaining balance.

Common joint debts

What ISN'T a joint debt

Just because you live with someone doesn't make their debts yours:

After a relationship breakdown

Step 1: Close or freeze joint accounts

Contact the bank and convert joint accounts to require both signatures, or close them entirely.

Step 2: Financial de-linking

Contact Equifax, Experian, and TransUnion to remove the financial association from your credit files.

Step 3: Negotiate with creditors

Explain the change in circumstances. Some creditors will agree to split a joint account into two individual ones.

Step 4: Get legal advice

In divorce, the court can allocate responsibility for joint debts as part of the financial settlement.

Protecting yourself

Free advice: National Debtline (0808 808 4000) or Citizens Advice (0800 144 8848).