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Individual debts

Each person is usually responsible for any loans or liabilities that are in their name only.

However, even if the debt or liability is in your partner’s name, you may still be responsible for paying some or all of the money. This depends on the individual contract or agreement.

When deciding on any financial agreements with your partner or spouse when you split up, make sure any contracts are checked carefully. You may need a solicitor or accountant to help you with this.

Joint debts

You and your partner are both responsible for debts you have together. This could include joint bank accounts, credit cards or store cards – anything where both of your names are included on the contract or agreement.

It does not matter if the money was used to buy something for one person in particular. You will have to pay for any joint debts if your partner does not pay.

It is important that you and your partner quickly agree to deal with any outstanding payments on joint debts. This will help avoid lenders taking action against you.

Credit cards, store cards and bank accounts

You must cancel or ‘freeze’ any joint credit cards, store cards or bank accounts immediately when you know you will be divorcing or separating. When a bank or credit card company ‘freezes’ your account, it means no more money can be spent or taken out. Any money in bank accounts can then be dealt with when both parties are agreed.

If your partner or spouse have access to this money, they may run up debts – either deliberately or not - that you will have to help pay. Speak to your bank, credit card company or store to help get the accounts cancelled or frozen. They may ask you to do this by writing a letter to them. The lender will be able to tell you the best way to deal with any money that you owe.

Help to deal with your debt

If you have a problem with debt, you should get help as soon as possible.

For example, you may not be able to pay your mortgage or your credit card debts have got out of hand.

Speak to your mortgage lender, credit card company or other lender and explain the situation. They may be able to help rearrange the schedule of payments.

There are also a large number of organisations that offer free help and advice if you are having problems with debt.

• Debt - where to get free help and advice

Using a mediation service

If you are separating or divorcing from your partner or spouse, it might be useful for you to use a mediation service. They will help you reach an agreement about financial matters that will save you time and money, without having to go to court.

If you want, you can check with a solicitor that any agreement you reach is fair and legally binding. This can help prevent any more disagreements in the future.

• Find a family mediator Opens new window

• Find a legal adviser Opens new window

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• Money, tax and benefits