3 Years ago me and my partner split, it was not very amiable and still isn't now. He decided that he was staying in the marital home leaving me to find somewhere to rent for me and the 2 children.
Luckily I did this fast and smoothly.
We have a mortgage, and a secured loan. The mortgage is currently in arrears however he has an arrangement on that to repay it and is making those repayments.
When I first left I contacted both providers. The mortgage company were not really interested but the secured loan company asked me to provide and income and expenditure list, which I did and never heard anything assuming he had made arrangements with them. Now the house is worth around 80k and the mortgage outstanding is 80k and is on interest only, so the secured loan that was originally taken out for 33.5k to consolidate debts now has 55k outstanding!
The first correspondence I had from them was last week, which was from a different firm called Idem Servicing and it just stated 'On receipt of this letter it is essential that you make contact with us' and that is it.
I have not yet contacted them, and my ex has advised me that as he cant afford it they chase the highest earner (ME), They also told him they were wanting £555 a month.. There is no way on this earth I can afford that. At a push I could do £100.
I am concerned that if they decide to take me to work that it will affect my job and ultimately result in me losing my job.
I am going to be making contact with step change and CAB this week, and also contacting the mortgage company to see about getting it onto repayment so that it is at least accruing some equity -(he can pay that)
I also think that this agreement had PPI which was not sold correctly but need to obtain copies of the agreement see if this is the case. The loan was originally with Picture and has now been with 2 other companies since, so I
am unsure of who I would contact.
Has any one got any sort of advice or experience with the above, I'm wanting to prepare myself to ring them and know exactly what to say and where I stand.. and how likely they are to take me to court, if I already offer as much as I can afford.