If you are a partner in an LLP and the LLP goes bankrupt, you can be responsible for paying its debts. This indicates that you can be obliged to use your own assets, like your house or savings, to repay the loan. If you're thinking about leaving an LLP, talk to the other partners beforehand to find out if the LLP will be dissolved. You shall be held jointly and severally accountable for the LLP's debts in the event that it is dissolved. Understanding your rights and obligations as a partner in an LLP requires legal advice