Co-borrowers

It is common for lenders to try and get the borrower's spouse or partner to sign the contract as well when they apply for credit. If you take out a loan account in joint names with your partner, it means that you have become co-borrowers.

Co-borrowers are both responsible for the loan from the beginning. That means, if the repayments stop then the lender can sue either one or both of you for the whole debt.

There is nothing in the law that states both you and your partner must sign a credit contract. It's your choice.

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