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Relationships

Mumsnet has not checked the qualifications of anyone posting here. If you need help urgently or expert advice, please see our domestic violence webguide and/or relationships webguide. Many Mumsnetters experiencing domestic abuse have found this thread helpful: Listen up, everybody

Found out that my fiance is 280k in debt - what happens should I still marry him?

343 replies

BornToShopForcedToWork · 28/09/2012 22:09

Last night my fiance confessed that he is 280k in debt. I am devastated and consider not to marry him anymore. Although we always kept our finances separate and I don't mind marrying him with the debt I am a bit worried that I will be liable for the debt as well. I am not English and therefore not sure how it's handled in the UK. I have assets that I would like to protect.

How shall I handle this situation?

OP posts:
sookiesookie · 29/09/2012 17:30

Personally I would only speak to the father if I was unsure if I wanted to finish the relationship. Let me make clear, I think you should run for the hills. But if you are unsure and feel he still is not being truthful, then contact the father and explain you are unsure whether to get married and worry about you have been told. See what they say.
He might kick off, but he isn't going to tell you the truth.
I really really think you should leave him. I don't think I have ever said that.
OP I am genuinely concerned for you. I think he is showing abusive behaviour and you are vulnerable because of everything that is happening. Please think long and hard about this.
When you pick your stuff up ask him not to be there and take someone with you, in case he is there.
I would tell him you are not over reacting. Hr is massively under reacting.
Although he said, when confessing, it was something people kill themselves over but you are over reacting by reconsidering the relationship. He sounds so manipulative.
Has he offered anymore info? Perhaps admitted that it is your business, at least the basics and truth about those basics.

Tressy · 29/09/2012 17:36

A director has limited liability for a companies debt so it won't be from that. Find out who he owes 280k to and what it was racked up for. It's a lot to be personal debt and unless he has a massive income to service it, I think this sort of debt would have caught up with before it got to this level.

He should have declared bankruptcy along time ago.

However, I'm not an expert in these matters.

Mydogsleepsonthebed · 29/09/2012 17:39

Tressy - that's true. Liability is limited to the amount of money that was guaranteed but sometimes banks and others ask for extra collateral to guarantee a loan for example a lean on a house, so it could be from that if he had had to personally guarantee a loan (I would still run like fuck though)

mathanxiety · 29/09/2012 18:01

You are absolutely not a fool.
He has chosen to be far less than honest with you about money (and possibly a lot more -- who are his friends, what happened with him and his family, etc) and has revealed himself to be nothing short of heartless when you needed support from him: all of that speaks volumes about him, not about you.

On top of everything else, when you are naturally devastated at all this, he has trotted out the line of the truly self absorbed, the old chestnut -- 'you are overreacting'.

I think you are dealing with a very troubled individual here the delusions of grandeur and the spending to the point of (and in the face of) massive debt, the people from his past that he is no longer in contact with (his parents and possibly more that you haven't heard about), the way he has split his life into several sections the 'relationship' with you, the 'friends' he has been involved with in business -- and the fact that he thinks there are parts of it that are none of your business. This is all very, very bad.

It is no reflection on you as a strong and whole woman that you would be completely unable to change this man. Please accept that you would never put a dent in his way of looking at life and his way of looking at other people and do not stick around to try, or feel that he will be your project, your challenge. Focus on your own life, on your own family, on your own future, your own financial security -- without him.

Nobody means enough to this man to change. Everyone else will always be wrong and he will always be right. Nobody else's life will ever be important enough to make him stop and think about what he is doing. You have seen some of that already in his comments about your problems vs. his far more important problems. You have seen some of that in the way he continues to spend money he does not have (this is called stealing) without apparently an iota of remorse or worry.

Darkesteyeswithflecksofgold · 29/09/2012 18:34

balotelliSat 29-Sep-12 14:43:48

Fair play to him for confessing. It must have been hard. I was in a similar stuation before I married my dw. I was in £15k of debt from being a twat with £. I felt I had to tell my GF at the time as I knew she was very good with money and was a very honest person. I didnt want to marry her with this hanging over my head. It took me about 2 weeks to find the courage to tell her. She listened then went quiet for a day or two. iwas convinced it was the end of the relationship but she came back witha plan to pay yhe debt off so we could start a life together free form worry.

We have been debt free since and now I am the tight one questioning every purchase almost

If i was your wife and you were questioning every purchase after shes helped you to get out of debt i would be pretty pissed off to be honest.
This sounds a bit controlling.

sookiesookie · 29/09/2012 18:37

I agree balotelli post wasn't the ray of light the op needed.
As well as being a universe away from the ops situation.

It was a really random post by balotelli

Teeb · 29/09/2012 18:37

I was thinking the same Darkesteyes to be honest. It was good enough when Balotelli ran up debts, and his wife paid them off.

sookiesookie · 29/09/2012 18:38

Actually is a good post to show OP what her life could be.
Him confessing debt, her planning and helping him out of it, him then controlling the finances. Not really and equal partnership.

QuintessentialShadows · 29/09/2012 18:41

He sounds more and more like bad news.

Please run a mile and dont look back!

sookiesookie · 29/09/2012 18:55

Its strange because I now think the debt is almost a none issue. IMO there is so much more that would have me running away.
Honestly OP, I have been In a dv and ea relationship. Its not good. What happened to me was fairly extreme (ended up in hospital, lasting damage to my brain, almost dead, mum found me and i was unconscious and such a mess she thought I was dead) but it happens. The ea, in some ways, has been harder to get over. I didn't marry him or even live with him.

The debt itself is not the main worry here.

charlearose · 29/09/2012 19:00

This reply has been deleted

Message withdrawn at poster's request.

clam · 29/09/2012 19:09

Actually, that's just reminded me, was goign to ask earlier and got side-tracked - why has he moved around such a lot? Another BIG red flag.

charlearose · 29/09/2012 19:13

This reply has been deleted

Message withdrawn at poster's request.

nkf · 29/09/2012 19:17

I married a man with debt (a fraction of the figure you mention.) He was also flash and had a cavalier attitude to borrowing. I don't think we had a single year together without some money crisis.

mathanxiety · 29/09/2012 19:20

280K in debt indicates a whole lifestyle based on the idea that you can do whatever you want with other people's money.

Calling your reaction to the bombshell 'overreacting' indicates that he feels if it doesn't matter to him it shouldn't matter to you, and what matters to you doesn't matter to him.

This is not a man who respects other people's rights to their money, or their feelings. He has no boundaries.

1stbabyat30 · 29/09/2012 19:23

no - do not marry him. Financial reasons are the number 1 cause of divorce - and that's probably just over £600 here and there. Not quite £280 THOUSAND? Run. for. the. hills.

griphook · 29/09/2012 19:34

Please just be aware that as someone else has said, people in debt often knock quite a bit off when owing up. When I owned up I knocked about 1/4 off first just to see what reaction I got.

Whatever your dp tells you he owes add lots more to it

culturemulcher · 29/09/2012 19:59

OP most people would freak out over finding out about a £28K debt, never mind a £280K debt - no matter what his business or family background is, that is an utterly terrifying amount of money.

If he then goes on to spend almost £10k you can know, without a shadow of a doubt, that he has a spending addiction, and addictions don't suddenly go away.

claudedebussy · 29/09/2012 20:01

i think you should get hold of the accounts of his businesses from companies house.

but i think he is lying to you mainly because he's refusing to discuss it now. he doesn't want to get caught up in more lies.

as mark twain says: 'always tell the truth. that way you don't have to remember what you've said.'

basically you can't trust him. if you had kids you'd be worrying whether you'd be able to afford nappies or whether he's just blown another 2K on an expensive suit.

crazyhead · 29/09/2012 20:11

Borntoshop, you sound like a really nice woman with everything going for you. Despite having serious inherited wealth which you could doubtless swam about on and live off, you are working very hard to train for an honourable career. You've had some really shitty things happen to you lately, and I think you shouldn't beat yourself up if you feel your judgement wasn't the best with this man. If everyone here posted the stupid things they've done when they've been having a shitty time (me certainly!), then there would be a lot worse than trusting a rather sharky guy up here.

Forget the money for a moment, respect and trust is such an important part of a long term relationship, and with your clear common sense and work ethic, are you really going to trust a guy who spends 8k on a watch when he owes all that money? Debt isn't abstract, there may be small companies, individuals, who he owes that money too who are being crippled by it. And the idea he doesn't think that is your business is odious.

At the very least, I'd put some distance between you and have a good think about this.

charlearose · 29/09/2012 20:27

This reply has been deleted

Message withdrawn at poster's request.

MadBusLady · 29/09/2012 20:38

everything mathanxiety and crazyhead said.

Hope you're having a calm day today BornToShop and are taking care of yourself.

IllageVidiot · 29/09/2012 21:43

I'm glad you managed to get some sleep and are feeling better today.

I second taking a friend with you to get your things.

I hope as you get over the shock you realise you have not been and are not a fool, it was in his utmost interss to hide this from you and to get that much debt you learn how to lie convincingly. You acted on the information you had, that's all any of us can do. Leaving him proves you aren't a fool and have a remarkable strength for someone dealing with such a heavy heart.

As an aside the last person I knew (who sounds identical to your man) was compelled to leave the country and was last heard of in the US before he dropped off the radar entirely. For unhappy people that have lost a lot of money due to this kind of business, the UK becomes a very small place indeed. He's moved 12 times - you don't run if someone isn't following.

You've made a solid and head lead decision, your heart will catch up once it stops being so raw. Future you will thank you for it.

Nagoo · 29/09/2012 22:19

OP, you are not a fool.

you are young but you are certainly not stupid.

You won't regret what you have learned from this.

izzyizin · 30/09/2012 00:45

How he came to amass such a colossal amount of debt should be of no interest to you as the only matter of paramount importance is that you end your engagement and have no further dealings with him.

Bear in mind that if he has racked up this enormous sum through fraud/scams or other illegal act, or it has accured through gambling at questionable establishments, it may not just be your financial security that is at risk if you continue to associate with him as it could be that his gross recklessness will follow you to your employers door.