Joint Debts

Joint debts occur when two or more individuals share responsibility for a loan or obligation. In the context of creditor's rights, if one party fails to pay, creditors can pursue any or all of the co-debtors for the full amount owed. This means that each debtor is equally liable for the debt, and creditors can legally seek repayment from whoever is available or more financially stable. This arrangement can lead to disputes among co-debtors about who should pay, but the creditor's right to collect remains intact regardless of the internal agreements among the borrowers.