How does my husbands Bankrutpcy affect me?

[nafta]

My husband has a number of debts and he has been adviced to go Bankrupt as his only income is DLA. The problem is one of those debts is in both our names. It is also one we have been paying for since getting an agreement with the creditors many years ago and have never defaulted on. He was told I would be made liable for 100% of the debt and will simply carry on making those payments. IS this correct?. Also will I have to come up to a new agreement with them?
many thanks.

[des8]

Re: How does my husbands Bankrutpcy affect me?

If you have a joint debt, and one of the debtors is declared bankrupt, the other can be pursued by the creditor as the debtors are jointly and severally liable.
As you have an agreement in place with the creditor, and as long as you individually continue to keep to it, there should be no need for it to be replaced by a new agreement.

[nafta]

Re: How does my husbands Bankrutpcy affect me?

Thank you so much for clarifying this!