If two or more people share joint liability, it means they are each individually responsible for the entire liability. For example, if you and your ex-spouse share joint liability for a $50,000 debt you are each held individually responsible for the entire debt amount. In other words, the collection agency will be calling you both and if you pay off ‘your half’ of the debt they won’t stop calling you for the other half. Before entering into any joint liability you should assess the other party’s responsibility. Co-signing on a loan will cause you to have joint liability with the person obtaining the loan.