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I have acquired 50 grand debt since yesterday!!

(17 Posts)
Justmadeperfectflapjacks Wed 17-May-17 15:34:47

Just found out exh hasn't been paying a joint loan from ten years ago - in both names, attached to mortgage and none payment for 56 months!!! Owe 48 grand!!
In court for a repossession order in 4 weeks!!
50 grand still on the mortgage and 8 grand arrears!!
Spoke to all officials concerned. .
I am liable for the debts tho have reasons and evidence to suggest he has done this maliciously to get me in massive debt. .
Wtf do I do except seek legal advice.
Or a hit man. .?
Divorced ten years ago and he assured me he has taken over all debts. . .
3 x ds and he was adamant he kept house.
No criticism needed at this time please. .

Madbengalmum Wed 17-May-17 15:38:45

From recent experience i have learnt that if your name is on a joint account or loan then you are still liable for it, even years down the line unless you have a court order which is adhered to and states you have no financial liabilty on said account/loan etc. However, i am not an expert just very fortunately got a court order.

user1487194234 Wed 17-May-17 18:49:27

Is house in joint names

indigox Wed 17-May-17 18:53:22

Were there anything/contracts/consent orders or otherwise drawn up for finances during the divorce?

oleoleoleole Wed 17-May-17 19:31:54

My ex h did this. Is took out an IVA.

EezerGoode Wed 17-May-17 19:34:57

If you rent ,go bankrupt..wipes of your debt..don't know anyone who has tho.but CAB would help.

stiffstink Wed 17-May-17 19:36:22

So has he kept the house? You live elsewhere? If so, the lender will sell the property and take their debt, arrears and costs from the sale proceeds.

PigletWasPoohsFriend Wed 17-May-17 19:37:23

Unfortunately you are likely to be joint and severely liable which means they can go to either of you.

You are the one that is on the house so it is you that are in the asset.

Is the house yours?

You need legal advice.

PigletWasPoohsFriend Wed 17-May-17 19:37:57

Orly miss read. Are you in the house or is he?

gruffalocake2 Wed 17-May-17 19:39:49

I would get in Touch with CAP they can negotiate this for you for free if you are definitely liable for the debt.

MiladyThesaurus Wed 17-May-17 19:39:55

Why was this not dealt with properly as part of your divorce 10 years ago?

KanielOutis Wed 17-May-17 19:39:59

Do you have a court order for him to pay the loan? I had a court order to take on debt on divorce and the paperwork said I could go to prison if I defaulted.

PigletWasPoohsFriend Wed 17-May-17 19:43:21

Why was this not dealt with properly as part of your divorce 10 years ago?

Thats the key.

Do you have a consent order and does it mention the loans?

Justmadeperfectflapjacks Wed 17-May-17 20:01:51

In the assets we got a car each and he stated he would continue to live in the house. I rent. Mortgage advisor today seemed to think I can argue the fact they allowed the debt to build up so much without action. .
The debt is more than double the original loan amount!!

PigletWasPoohsFriend Wed 17-May-17 20:03:32

In the assets we got a car each and he stated he would continue to live in the house. I rent.

Was it officially written up though and what did it say about the loans?

Justmadeperfectflapjacks Wed 17-May-17 20:10:26

Am mentally preparing myself to go through all the paperwork. .
Makes me feel physically sick to have to relive the whole bloody mess. .
The loan was for a car that mysteriously set alight on a garage forecourt-electrical fault apparently. He didn't use the insurance to make any loan payments! Other times he had large chunks of cash and still never paid. . That's why I am suspicious of his motives. . Letter says we have to explain why it wasn't paid. I have to reaffirm I had faith he was paying reading between the lines with the advisor. Interested to hear his reply. .

babybarrister Fri 19-May-17 20:32:35

Starting point is mortgage company not interested in your divorce or whether you lived there or not. If the joint mortgage was retained post divorce then even if you did have a proper consent order, your only protection would have been that he would have indemnified you for the debt - in other words that you could sue him...
Does your ex have any money? Is it worth suing him?

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