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  • #1

    Mortgage shortfall & Ex-Wife's Bankruptcy

    Hi Guys

    I know a few of you guys on here as you have helped me with a problem i have with a finance company and i am extremely grateful.

    I would like to ask if anyone can help me with the following.......

    My Boyfriend of 2 years had split from his wife 3 and a bit years ago and when this happened his wife and children stayed in the mortgaged home that they had, now unknown to him about 6-7 months ago she handed the house back to the mortgage company without telling him, we came home yesterday to a letter from a lawyer to say that my boyfriend is liable for the whole entire mortgage shortfall of £50k he contacted his wife and she politely told him its not my problem i have declared myself bankrupt!

    now my question is

    If they are still legally married and it was a joint mortgage being paid from a joint bank account can she do this and is my boyfriend liable for the full mortgage shortfall??

    Any help on this would be appreciated my boyfriend is really really worried and upset.
    "you are only coming through in waves, your lips move but i cant hear what your saying iiii iiii iiii have become comfortably numb"

    Tags: 2012, act, action, address, bank, banking, bankrupt, bankruptcy, banks, card, child, children, class, comi, con, contract, council tax, cra, credit, credit card, creditors, debt, debts, divorce, dpa, england, financial, free, help, home, house sale, information, interest, job, joint names, kids, law, legislation, letter, mat, money, mortgage, nice, paid, pay, petition, property, rules, santander, scotland, scottish, scottish br, shortfall, signature, sky, split, stolen, stress, support, tax, wife
  • #2
    Re: Mortgage & Bankruptcy

    Hi Mags

    someone will be along soon who will have better information than me.....

    But looking at it - I think it maybe right - however I am sure there are ways to fight this.......

    what an awful sitation - please try not worry and I'll get someone with more knowledge than me to have a look

    x
    .

    Comment

    • #3
      Re: Mortgage & Bankruptcy

      Thanks Loo Loo

      I have never seen my partner in this way and itss so upsetting.

      To put you in the picture after he and his wife split he continued to pay his half of everything and pay for the kids too, (he even gives maintenance for a child which is not biologically his) he is such a nice guy and to see this happen to him is awful.
      He continued to pay half of everything until the kids told him that they were moving house, so then he asked his ex what was happening to the joint owned home and she said i have handed back the keys (news to him as it was being paid), now we have received this letter yesterday and he had no idea it was coming.

      Let me stress he knew there would be a shortfall in the mortgage ie his half of the £50k now this we can live with £25 as if you owe it you owe it, simple right, but now she has just dumped on hm that she has made herself bankrupt!!!

      He works in a very reputible financial institute and this coming out could lose him his job!!
      "you are only coming through in waves, your lips move but i cant hear what your saying iiii iiii iiii have become comfortably numb"

      Comment

      • #4
        Re: Mortgage & Bankruptcy

        Not sure exactly on the law, someone else will be, but you would think if its a joint mortgage, and she filled for bankruptcy, half the mortgage shortfall should have been included in her petition.

        Shes clearly neglected to tell the official receiver of this.

        Perhaps he should ring her insolvancy service, and find out whether she added her half to the petition.
        I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

        If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

        Comment

        • #5
          Re: Mortgage & Bankruptcy

          Originally posted by Mags76 View Post
          Thanks Loo Loo

          I have never seen my partner in this way and itss so upsetting.

          To put you in the picture after he and his wife split he continued to pay his half of everything and pay for the kids too, (he even gives maintenance for a child which is not biologically his) he is such a nice guy and to see this happen to him is awful.
          He continued to pay half of everything until the kids told him that they were moving house, so then he asked his ex what was happening to the joint owned home and she said i have handed back the keys (news to him as it was being paid), now we have received this letter yesterday and he had no idea it was coming.

          Let me stress he knew there would be a shortfall in the mortgage ie his half of the £50k now this we can live with £25 as if you owe it you owe it, simple right, but now she has just dumped on hm that she has made herself bankrupt!!!

          He works in a very reputible financial institute and this coming out could lose him his job!!
          O that is so awful - esp as he was giving her the money..........

          These situations are never easy are they - at least he has you to help and support him.



          Originally posted by SXGuy View Post
          Not sure exactly on the law, someone else will be, but you would think if its a joint mortgage, and she filled for bankruptcy, half the mortgage shortfall should have been included in her petition.

          Shes clearly neglected to tell the official receiver of this.

          Perhaps he should ring her insolvancy service, and find out whether she added her half to the petition.
          SX I am not 100% sure about this........... I am a bit rusty now with the BR rules etc as it has been a while since I was looking into it....

          Good luck to you and your BF Mags and please please try not to get stressed as it will just not help either of you

          xx
          .

          Comment

          • #6
            Re: Mortgage & Bankruptcy

            My thoughts are that the mortgage company should have contacted your BF to ensure that he was ok with the keys being handed back.


            Could you and BF not ask to convert the mortgage to a joint in your names (or sole in his name) and move there or rent it out??

            Her going Bankrupt just means that shes no longer liable for it but could be a blessing in disguise as could mean that there needs be no further problems with regards to her and house
            I am an IT Professional with a Background in most Microsoft Based Technologies. Currently Proud to Work at one of the Leading UK Universities. I have that Mentality of "If I can provide Useful Input - then I will Try my best to do so"

            Life is full of Ups and Downs. Shame it just aint simple.

            Comment

            • #7
              Re: Mortgage & Bankruptcy

              I would have thought if the house has been repossed 6/7 months ago the Lender has probably sold it? (although Mags can let us know if this is the case)

              Also the lender might have written to her BF at the home address... and if they did..... then in all probablility the ex wife never passed it on...........

              such a nightmare
              .

              Comment

              • #8
                Re: Mortgage & Bankruptcy

                Originally posted by SXGuy View Post
                Not sure exactly on the law, someone else will be, but you would think if its a joint mortgage, and she filled for bankruptcy, half the mortgage shortfall should have been included in her petition.

                Shes clearly neglected to tell the official receiver of this.

                Perhaps he should ring her insolvancy service, and find out whether she added her half to the petition.
                Sorry, but it doesn't work like that.

                Assuming a joint mortgage then they would be joint & severally liable for the shortfall. i.e. they are both liable and can be chased for the full amount if the other does not pay.

                That means that while the shortfall may or may not have been mentioned on her petition, it will never wipe out 50% of the debt.

                Instead it would just remove her part of the joint and several liability, leaving the whole lot to fall to him.
                I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                Comment

                • #9
                  Re: Mortgage & Bankruptcy

                  ^^^^^ I had a feeling that would be the case...........
                  .

                  Comment

                  • #10
                    Re: Mortgage & Bankruptcy

                    Originally posted by rizzle View Post
                    Sorry, but it doesn't work like that.

                    Assuming a joint mortgage then they would be joint & severally liable for the shortfall. i.e. they are both liable and can be chased for the full amount if the other does not pay.

                    That means that while the shortfall may or may not have been mentioned on her petition, it will never wipe out 50% of the debt.

                    Instead it would just remove her part of the joint and several liability, leaving the whole lot to fall to him.
                    But they should have done everything in their power to make sure that they got in contact with him.

                    A letter to the Mortgaged property does not suffice especially if he wasnt resident there.

                    Thats what the Electoral Role and CRA's are there for.

                    Plus its rather deceptive on her part tbh
                    I am an IT Professional with a Background in most Microsoft Based Technologies. Currently Proud to Work at one of the Leading UK Universities. I have that Mentality of "If I can provide Useful Input - then I will Try my best to do so"

                    Life is full of Ups and Downs. Shame it just aint simple.

                    Comment

                    • #11
                      Re: Mortgage & Bankruptcy

                      Who should have? The mortgage company or the Official Receiver?

                      If you mean the OR, then it's not their job or duty to inform anyone left jointly liable.

                      If you mean the mortgage company, then as she handed the key back presumably she did this giving the impression that it was done with his consent so they would have no reason to write separately?

                      I've even heard of an ex in a similar case forging the ex partners signature on repossession forms/letters/docs etc. Not saying that happened here, but you never know...
                      I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

                      If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

                      Comment

                      • #12
                        Re: Mortgage & Bankruptcy

                        Totally agree with you Riz - I know that even though my ex was not living at the property as far the lender were concerene he was and they only ever wrote to us together at the address - they never wrote to us seperately even though they knew were were divorcing


                        I personally think (just my opinion) that the ex wife probably did give the impression that handing back the keys was mutual....... and it is only now they have traced Mags's BF as obv they can't get the money from the ex
                        .

                        Comment

                        • #13
                          Re: Mortgage & Bankruptcy

                          Originally posted by rizzle View Post
                          If you mean the mortgage company, then as she handed the key back presumably she did this giving the impression that it was done with his consent so they would have no reason to write separately?

                          I've even heard of an ex in a similar case forging the ex partners signature on repossession forms/letters/docs etc. Not saying that happened here, but you never know...
                          This is what DPA and also various other acts of law are there to protect against.

                          Essentially hes been landed with a horrible situation that shouldnt have been allowed to happen.
                          I am an IT Professional with a Background in most Microsoft Based Technologies. Currently Proud to Work at one of the Leading UK Universities. I have that Mentality of "If I can provide Useful Input - then I will Try my best to do so"

                          Life is full of Ups and Downs. Shame it just aint simple.

                          Comment

                          • #14
                            Re: Mortgage & Bankruptcy

                            Hey guys thanks for the replies, i am confused by it all at no time did anyone get in contact with my bf about all of this happening no lawyers no mortgage company nothing and he is on the electoral role at my home, trying hard to take all your comments on board but gettin a bit overwhelmed and its really hard seeing my man like this
                            "you are only coming through in waves, your lips move but i cant hear what your saying iiii iiii iiii have become comfortably numb"

                            Comment

                            • #15
                              Re: Mortgage & Bankruptcy

                              Oh and just to clarify the house is gone/sold
                              "you are only coming through in waves, your lips move but i cant hear what your saying iiii iiii iiii have become comfortably numb"

                              Comment

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