Dave,(posted 7008 days ago)I am not a legal expert, so please check with one, but I think they can do this, you are jointly and severally liable to the WHOLE of the debt, not half. Given you have been making monthly payments you have acknowledged the debt with each payment and so restarted the 12 year limitation period from the date of each last payment. I suspect your best bet is to negotiate a nominal settlement with the lender, like your wife, put them to strict proof of the debt to help do this, and make sure you take into account all the monthly payments you have already made. If they turn nasty don't forget to solicit the help of your local MP. Good Luck.
Mark