A leading Australian credit ratings firm has warned those in love to be cautious when taking on debt for a partner. It says debts taken on for a partner, when things are rosy, can become a real hassle if the relationship breaks up.

For example, women taking on debt for a husband or partner could find they are legally liable for that debt after the relationship has run its course, and the consequence of not being able to pay up could be credit difficulties later on. Even if an ex promised wholeheartedly they would give you the money back.

A Veda Advantage study has shown Australian women are more likely to be named on utility bills than men. It believes this shows women take on more utility debt than men. The study showed 58 per cent of Australian utility bills were in the name of women, compared to just 42 per cent for men. In Australia, the utilities report to the credit reference agencies, so failure to pay these bills can lead to future credit problems. Even if an ex has failed to give you what was owed by them.

Women be warned, studies have also shown men are worse at paying back their debts.

Research by another credit ratings firm, Dun & Bradstreet, revealed men are much more likely to fail to make repayments on their mobile phone accounts than women. Their findings showed nearly twice as many men fail to pay their mobile phone debts than women, at 57 per cent. Also, 57 per cent of men fail to repay their cable or satellite bills, compared to just 42 per cent of women.

Another Veda Advantage study, into the repayment habits of men and women, has highlighted that men are much the greater offenders when it comes to failing to repay loans. Men are responsible for 62 per cent of defaults on loans and overdrafts and account for more than half of mortgage defaults. They are responsible for 55 per cent of overall defaults on all types of credit accounts, it is claimed.

Easy ways to avoid being burdened with an ex's debts include:

Don't put your signature to credit agreements without fully understanding the implications. Once signed, a credit contract renders a consumer legally liable for meeting the payments or gives responsibility for the debt.

If lumbered with bills to repay by an ex, it may be worth getting sound legal advice or talking to the companies owed money. They may be willing to offer alternatives to avoid a customer defaulting on a debt.

Know your partner's finances. If making major purchases, such as a car or house, it is worth making sure any credit agreement is signed by all parties. This will avoid you carrying the can alone if a relationship ends.

Letting a spouse or partner become an additional name on your credit card will leave you liable for their spending, so be careful.

Get your ex off a credit card account immediately if you break up, otherwise they may go on a spending spree at your expense.

Protect your money in current, savings and cheque accounts by contacting your bank to get the accounts closed immediately after a relationship breaks up.

If you move home after a break up, make sure all statements are sent to your new address, so that you don't miss any payments that could affect your credit rating.

If you are worried that your credit rating may have been affected by unpaid debts after a break up with an ex, then check your credit report for peace of mind. Credit reports can be obtained free of charge by writing to Veda Advantage and Dun & Bradstreet, Australia's credit checking firms.

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