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Debt - am I legally liable?

Discussion in 'Accounting, Tax & Legal' started by bec0203, 28th Jan, 2009.

  1. bec0203

    bec0203 New Member

    Joined:
    6th Jan, 2009
    Posts:
    4
    Location:
    Paddington, Sydney
    Hi,

    My defacto partner of 2 years has recently called in an administrator as his buisiness has failed with some debt attached. He also has a decent level of credit card debt and a poor credit history. He is now waiting to see if he needs to declare himself bankrupt.

    My question is - as his defacto can I be liable for any of his debt and can his circumstances have any effect on my (clean) credit record? We don't own anything together like a house or car, we rent, only have one bank account together (which is only used for household bills) and I am not his signatory on anything? Over the years our finances have remained generally separate.

    Thanks.
     
  2. AsxBroker

    AsxBroker Well-Known Member

    Joined:
    8th Sep, 2007
    Posts:
    1,448
    Location:
    Sydney, NSW
    Hi Bec,

    You should probably check the detail with a solictor/lawyer as it could get messy.

    Cheers,

    Dan