He's my man even with his debts!

[DangGina]

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

What about the positives??.....
There are plenty of positives as to what may happen once you consider unenforceability, the main one being that you cease payments to the debt. The lender can and will chase you for repayment (McGuffick v RBS 2009), however whilst the account remains in default (unenforceable), the OC or DCA have their hands tied meaning they cannot obtain a court judgment against you. These include a CCJ or Charging Order.

Is that not right?

[Never-In-Doubt]

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.

Ok, this gets funnier - so her parents are loaded yet she is messing about like this..... why then was that not mentioned in court? They have to take that into account, what if the parents were millionaires? That plays a major mart in this and if they are so quick to jump in then why not just sign the bloody thing over to her?

My concern is the long term damage the link can do to you both, forget the ex, but her sharing any link will affect your fella hence will affect you.

Anyway, moving forward - maybe you need to read more on UE before proceeding....

[Never-In-Doubt]

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

What about the positives??.....
There are plenty of positives as to what may happen once you consider unenforceability, the main one being that you cease payments to the debt. The lender can and will chase you for repayment (McGuffick v RBS 2009), however whilst the account remains in default (unenforceable), the OC or DCA have their hands tied meaning they cannot obtain a court judgment against you. These include a CCJ or Charging Order.

Is that not right?

Read out of context! "Whilst the account remains in default", ie the s.78 request remains outstanding or they are in default of the CCA (no agreement sent) etc - but yes, they can still get a CCJ lots of ways. We try and stop it, of course but sometimes a lender plays dirty and sends the claim to the other address - example? Sure, here ---> Mrs G vs Marlin/Mortimer Clarke/Yorkshire Bank - allaboutFORUMS

[Never-In-Doubt]

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

Ok, so basically I reckon that going for UE right now is probably a good start - see what happens. However as he does own two properties there is a high possibility a DCA may well try and enforce the debt by way of CCJ/CO - so long as you're aware of this....

[DangGina]

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

The main concern of the courts in his divorce was housing the children. they said that he needed to stay on the mortgage and that was that, she uses her best endevours to get him off. She will inherit in future (something the courts are NOT interested in) so I dont envision him having that link until the youngest is 18. In fact we are hoping remarriage might be our best hope for a trigger of the order.

I know its not ideal but he didnt have the money or the fight to drag it out in court and as there was contact proceedings running alongside that was far more important to him.
with near on no assets other than the houses (mortgaged to the hilt) and her unable to raise a mortgage on her own this was the best of a bunch of bad options.
If hed forced a sale she would have never allowed contact with his children so this is the best decision he felt he could have made.
So not the best situation but at least we have a roof over our own heads and the ability to save whilst we are there. I would have liked to see all the houses sold and a total clean break but this is what we have to live with.

AHHH edited now.

[DangGina]

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

Reading on another site..if a house is owned jointly, then CO cant be applied can they?

[Never-In-Doubt]

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

Reading on another site..if a house is owned jointly, then CO cant be applied can they?

Yes as it would be a joint debt, and a joint mortgage so as long the DCA issued a claim for each parties then yes, it can occur

[Never-In-Doubt]

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

AHHH edited now.

I can see the edit obviously, no the info here is not incorrect (insulted - I spend hundreds of hours maintaining accuracy on our guides) - however it is not a case of one size fits all - trust me when I say, we're the best at what we do and blow all other forums away - the proof is in the pudding, our legal section is packed with victories where we beat the banks - ask planB - she has helped to change consumer credit as well know it and beat Santander meaning almost 2.5m customers could benefit from her ruling.

As I say, try and have an open mind, anything can happen - its what we do "collectively" to combat the problem that really matter....

[PlanB]

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

I expect he can't sign over a house with a mortgage to his wife unless the wife can demonstrate that she has sufficient income of her own to meet the mortgage company's lending criteria. Ask Transformer 999 about that problem.

How old are the children ?

[DangGina]

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

Nope, deed in her name, mortgage in both hers and his.
needed written permission from the lender to do it, but it was done and got. owning a home on paper and having a mortgage for it are in effect, 2 separate things...and lenders know this happens in divorce.

I didnt mean to offend anyone but all of this stuff is new to me...the divorce and financial side of that is not. We knew our options and this was the best of a bad lot.

He did the best he could and got the best deal for the children he could. Wasn't worth fighting over. legal bills could have reached tens of thousands for nothing.

But all that aside, Im not totally worried about the CCJ aspect or the CO aspect as the house we in will be sold in a few years time and really, he has no financial interest in her house anymore. She knows she has this joint account debt as well, and its her thats responsible for it so if a CO is put on her house for it then so be it.

[Never-In-Doubt]

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

I expect he can't sign over a house with a mortgage to his wife unless the wife can demonstrate that she has sufficient income of her own to meet the mortgage company's lending criteria. Ask Transformer 999 about that problem.

I was referring to the bank of mum and dad

[DangGina]

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

kids are 11,10 and 6, so 2024 trigger for youngest 18 is the WORST case scenerio breaking the link between them.

[DangGina]

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

Nope, mum and dad can certainly meet the mortgage payments but cant get another mortgage in their name..this WAS suggested but the courts cant force it.
If she was FORCED to do anything, he could kiss his contact with his kids goodbye. hence the situation we are in.

[PlanB]

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

I didnt mean to offend anyone but all of this stuff is new to me...the divorce and financial side of that is not. We knew our options and this was the best of a bad lot.

He did the best he could and got the best deal for the children he could. Wasn't worth fighting over. legal bills could have reached tens of thousands for nothing.

.

He sounds like a thoroughly decent bloke who put his childrens' welfare ahead of everything else like boring money Courts always put the kids first because they're the innocent ones in all this.

I'm a second wife and I was happy to see my (now ex) husband spend his money on keeping two little girls happy in the home they had grown up in. That was one reason why I made such an effort to like them, and we're still in touch now 20 years later. At least you know he'll stand by your children if the same thing ever happens to your marriage. I'd hang on to this man if I were you he seems like a good catch

[DangGina]

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

Yes as it would be a joint debt, and a joint mortgage so as long the DCA issued a claim for each parties then yes, it can occur

To be honest I hope this happens for the lloyds debt.