My husband left the family home with my child due to unreasonable behavior by me (alcohol). Up until leaving the mortgage was regularly paid by direct debit from his account. Last month he didn't have the funds so I transferred the money, which I borrowed into his account. Should I continue to do this going forward? We are both unemployed.
If someone does not pay it will be repossessed and sold off at less than you would be able to sell it for so best to keep it going. COuld you move in with family and let out the property so that it is at least covering its costs whilst you thrash out a final financial deal between thet wo of you on a divorce?
I work in mortgages but am not a financial advisor so not qualified to give advice. However I would recommend:
- Is the mortgage in his name only or both your names? If his name only, you need to speak with the CAB or a financial advisor ASAP. If in both names the mortgage company should be able to discuss the account & accept payments direct from your account rather than you having to transfer the money to XH each month. - Whatever else you do, try & get to the CAB or get professional advice ASAP, I think there are free debt advice lines, the CAB should be able to help you with this. Here are some suggestions for starters, the CAB will probably be able to give a lot more help:
- Speak to your mortgage company & make sure they know the situation. - Ask them to confirm if there are any arrears on the account, how much, when are they from & have they added any charges. - get them to confirm, if the account is in your name, that they will ensure all relevant correspondence is sent to you as well as XH. - Do not bury your head in the sand. Even if you aren't named on the mortgage, I think you have, or can get, some legal protection but you need to make sure the mortgage co are aware of it. If you just ignore the situation I guarantee it will only get worse. - Try & get the mortgage company to ring you, at a prearranged time, if you need to have ongoing conversations. They may have high call charges if you ring them & waiting times can be long before you get through.
Looked a couple of things up at work this morning.
- check out solicitors websites. You don't have to pay to look. Make sure any firm you check out or consider speaking to are registered with the Solicitors Regulation Authority. You can Google the SRA, I think they have a register of solicitors, you will be a lot better protected against the solicitor taking you for a ride. - contact the council & benefits agency etc to make sure they are aware & you get all help you are entitled to.
Can't think of anything else just now. What I said before stands though- speak with the CAB and/or speak to a free debt line asap to see where you stand.