He's my man even with his debts!

[DangGina]

Right so following from a nasty divorce that saw his ex make off with settlement money that was supposed to clear marital debt OH has the following to his name, all from pre 2007:

JOINT - with ex - current account overdraft debt with Lloyds TSB
Tesco Loan
NRAM loan

Starting on this journey is rough. He contemplated a dmp but we need all the money we can in savings for a mortgage tbh. Will only be in my name as he is still named on his ex mortgage and her credit history is down the bin with his. Best to keep our assets separate from her.

[DangGina]

Re: He's my man even with his debts!

Tesco Personal Finance - Loan

• Date commenced 02/11/2004
  
  
• Approx balance £3374
  
  
• Date last paid January 2012
  
  
• Are you on arrangement or not paying - not paying
  
  
• Status defaulted 04/04/2012
  
  
• Account owner Tesco still corresponding
  

sent
received
other information
CCA on file as reclaimed PPI last year
September 2012 - emailed NIDDY CCA

[DangGina]

Re: He's my man even with his debts!

NRAM - Loan

• Date commenced 10/11/2006
  
  
• Approx balance £9356
  
  
• Date last paid January 2011 - redundancy month
  
  
• Are you on arrangement or not paying - not paying
  
  
• Status defaulted 27/07/2011
  
  
• Account owner NRAM and AIC correspond
  

sent
received
other information

September 2012 - emailed CCA to niddy

[DangGina]

Re: He's my man even with his debts!

Lloyds TSB - Current Account Overdraft Balance (joint with exwife)

• Date commenced 01/09/2009 (a year after separation! original account opened sometime 1994-95)
  
  
• Approx balance £5530
  
  
• Date last paid never paid towards it - salary last went in July 2008, separated 2 weeks later and opened own account
  
  
• Are you on arrangement or not paying - not paying
  
  
• Status defaulted 07/06/2011
  
  
• Account owner Wescot
  

sent
received
other information

September 2012 - posted CCA request

[DangGina]

Re: He's my man even with his debts!

emailed Niddy CCA - Tesco

[DangGina]

Re: He's my man even with his debts!

emailed Niddy - Northern Rock!

[DangGina]

Re: He's my man even with his debts!

yes this is an issue for us obviously but a mortgage advisor also said that if he retains the finainical link with her (on her mortgage, which he has to until worst case 2026) then if she gets repossessed our assets could be in danger.
so best go down the UE route and pay what we were paying or planned to in a DMP into savings to get the biggest deposit going possible..dont see my income going above 40k for awhile!

[Never-In-Doubt]

Re: He's my man even with his debts!

yes this is an issue for us obviously but a mortgage advisor also said that if he retains the finainical link with her (on her mortgage, which he has to until worst case 2026) then if she gets repossessed our assets could be in danger.

Not necessarily, as you could easily prove that he is nothing to do with her, however that said why is he staying on the mortgage with her? Force the sale or a buy out - worse thing he could do is retain the old marital home or whatever. It's not all about money, if there is no profit then why keep it? If there is a profit, sell up and use the JOINT proceeds of sale to pay off the JOINT debts, no...?

so best go down the UE route and pay what we were paying or planned to in a DMP into savings to get the biggest deposit going possible..dont see my income going above 40k for awhile!

I agree

[DangGina]

Re: He's my man even with his debts!

not enough equity to see her rehoused, she doesnt work so cant raise a mortgage on her own. mesher order, common for lowish income only asset is property. If she hadnt been so greedy at the height of the property boom then things wouldnt be so bad but she HAD to have a big big house.
he retained their first home (which is on btl and we are living in naughty i know) but the mortgage is interest only and it allows us to save. it will be sold when we have enough deposit for me to buy a house in my name. 3-4 years, probably not got much equity in it either as she remortgaged it to buy teh house she in now.

they are both indemified of each others mortgages (ie repossession before pursuit of the other party) but honestly we just want rid of the house we are in. it serves a purpose now but tis too small, was their first home (yuck) and in a crap area.

[Never-In-Doubt]

Re: He's my man even with his debts!

I'm confused, so you're saying he has kids with her then as if not it would be a Martin Order wouldn't it?

So who got the court order? A good solicitor can release them... regardless of the case law from the 80's. I just think it's vile that it creates a financial link yet a court is allowing this link to then have an adverse effect meaning in essence he could be homeless whilst she lives there - sorry that is just feckin nuts in all but lunacy!

I also think that they work based on him having money, clearly he does not hence the order should be relinquished so they are BOTH equally in as much shit!

Thing is if she gets in any debt, so long as she has that house (even ten years after your fella's credit file is bang on) it could affect YOUR relationship based on the fact your mortgage rate, assuming you wanted to move again in later life, could be affected or you could be rejected and thus it would also affect you - all for something done decades ago.

I think a good solicitor could put paid to this ludicrous order

[Never-In-Doubt]

Re: He's my man even with his debts!

** For anyone wondering what the hell we're talking about above -

read this :---> Mesher Orders and Martin Orders: What You Need To Know - Marilyn Stowe Blog

That's a good example of the order process.

[DangGina]

Re: He's my man even with his debts!

He agreed it at court as he didnt want his kids to move again.
She would have fought TOOTH and NAIL to keep her house..with the money from her parents to do so. the local courts here historically grant these orders like no ones business. she wouldve become dependent on the state ie housing benefit and judges in the south normally say neg to that.
keeping the kids housed, he stays on mortgage till such and such. no SM no pensions to offset nothing. the two properties were the only thing to divide (other than the debt of course ) he gets one, she gets one.
This was presented to him as best deal from two solicitors so he took it.
The children were the priority in his case and with the children comes the primary caregiver.
we have very VERY detailed mesher triggers but so long as this link exists then all assets of ours will only be in my name.

[Never-In-Doubt]

Re: He's my man even with his debts!

He agreed it at court as he didnt want his kids to move again.
She would have fought TOOTH and NAIL to keep her house..with the money from her parents to do so. the local courts here historically grant these orders like no ones business. she wouldve become dependent on the state ie housing benefit and judges in the south normally say neg to that.
keeping the kids housed, he stays on mortgage till such and such. no SM no pensions to offset nothing. the two properties were the only thing to divide (other than the debt of course ) he gets one, she gets one.
This was presented to him as best deal from two solicitors so he took it.
The children were the priority in his case and with the children comes the primary caregiver.
we have very VERY detailed mesher triggers but so long as this link exists then all assets of ours will only be in my name.

wow, fair play to you for standing by him - that is one hell-ova-commitment.

But back to this, as he owns two homes, you're gonna love this, if he goes down the UE route and they take action, lets say they get a CCJ then follow it up with a CO - this Mesher Order would mean little as by that point the primary interest would be to the claimant of the debt.

I am just saying, this is long but over..... however, why doesn't he do the opposite and sign over the house in totality to her? Or just quit his job so he has no income, then let the houses both get repossessed - there is always a way around these silly orders and the main one is non payment of mortgage - a court can do nothing to help the ex so long as the owner (ie the mortgage company) repossess.

And yes, if she got made homeless then the LA would rehouse her as she has kids.

I am no lawyer, but the above is some good examples that should have been explained at the time. In my opinion, of course....

[DangGina]

Re: He's my man even with his debts!

He doesn't pay the mortgage on her home. Hes only named on it, he hasnt made payment on it since 2008.
She will NEVER go homeless. If there was a wiff of repossession threat her parents would bail her out.
Hes not asking for any equity out of the house either. there is only about 35K in it total value 190K.

I thought CCJ couldnt be made on UE debts?

[Never-In-Doubt]

Re: He's my man even with his debts!

I thought CCJ couldnt be made on UE debts?

who told you that nonsense....?