mortgage represents about half of our income

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MelanieGiles

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Post by MelanieGiles » Wed Nov 05, 2008 6:48 pm
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If you have given a limited guarantee to the tune of £12,500, then this is all you will be pursued for, and your partner will have to deal with the balance. But if you have given a joint and several guarantee, for the whole sum, then both of you are jointly liable for all of it.

The full amount would also fall into your bankruptcy, putting pressure on your partner to deal with the full balance.
Regards, Melanie Giles, Insolvency Practitioner
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