Can you explain "joint & several
liability" to me?
I did not sign an agreement what can I do?
Can you explain "joint
& several liability" to me?
If you have taken out a credit agreement, loan
or have a bank account in joint names (with another person)
then you are both liable for the full amount of any debt.
This means that if you have a joint loan with
a spouse or partner and one of you fails to repay the debt
(this often happens following divorce or separation) then
the lender could still ask you for payment of the full amount
(not just half).
The lender cannot recover the money twice but
can pursue both of you, or just one of you for all amounts
still outstanding until they have obtained full payment.
Joint and several liability can also apply to
rent arrears on joint tenancies, arrears on joint mortgages,
council tax payments and water charges on properties that
have been jointly occupied.
I did not sign an agreement
what can I do?
For an agreement to be joint & several it
must be signed by all parties (except for council tax). If
you have not signed the agreement you are not liable.
Don't wait until it's too late
