Assistance with Joint and several liability

Questioner

My business has gone bankrupt and now my wife and I are held personally liable for the bank's credit, what is the best way to proceed now.

Lawyer

This question cannot be answered in this way. For example, it makes a difference whether or not you are married in community of property or under a prenuptial agreement. In the latter case, the chance that your partner can be held liable is small. If the credit provision relates to a personal loan and therefore not a business loan, then things are different again. It is best to contact a lawyer, especially if it concerns a large amount, to have the case assessed. I do not handle cases myself.

Lawyer

Given the wording of the question, I lack the information needed to give an exact answer. I assume that a guarantee was issued to the bank in the context of the bank's provision of credit to the bankrupt company (BV). If it was a sole proprietorship or a VOF, you are liable on that basis anyway. This is something to go through very precisely with a lawyer. I myself sometimes agree to look at it for an hour against immediate payment of € 215, - plus VAT. If further steps need to be taken, we discuss that on the spot. The answer can vary greatly depending on what you have on the table: * debt redemption; * reject liability & cancel suretyship on behalf of wife; * refute facts stated by the bank; * make payment arrangements.