Help!

singlefin

Looking for some help here everyone.

My sister and husband have got themselves into an amazing amout of debt.

To set the scene - my sisters first husband passed away and she ended up with a decent house in in Leeds with no mortgage. After a number of years she meet a new chap - the first warning sign here is that the chap had a house and car reposesed but my sister didnt seem too bothered and they ended up getting married.

Roll the clock forward 10 years and i've just found out that they've re mortgaged the house numerous times which now totals £100k+. Plus various other loans and credit cards that my sister doesnt seem to know the exact details of. Also she's been trying to dig herself out of the debt but is constantly undermined by her husband who seems to have a habit of buying an expensive car every 6 months as well as the latest electrical gadgets.

The really sad thing is she's been attempting to get out of the relationship for years but felt trapped and her husband has also become violent. We've now had a family meeting (without his knowledge) and she's now going to take control and get this guy out of the picture.

Main questions are -
1. If they divorce what happens to the outstanding debt? Would the house have to be sold to clear it?
2. Can he walk away and leave my sister up to her neck in debt?
3. My Sister has some secret savings, ISA's, Preminum Bonds etc - would he be entitled to any of this?
etc, etc

Anyone got any good advise?

Obviously she'll be consulting a lawyer ASAP.

Thanks

GameOver_2

Should of got a pre-nup..............lol.

mattp_3

You need to find out whose name the debts are in??

If they are all in her name then its not good news I'm afraid as she will be liable, but if there is a split of debt, then I assume this can be resolved during the divorce proceedings and any debts/savings/assets will be assigned through the solicitors etc

Worst-case scenario - he could leave and petition for his own bankruptcy (sounds like the kinda guy who wouldn't worry too much about doing it??) this would then cancel all of his liability to the joint debts and leave your sister liable for the FULL AMOUNT!

To be honest in these circumstances you are best to consult a solicitor as it could turn into quite a legal battle if he tries to wriggle out of the debts and puts in a claim for any of your sisters assets.

Regards
Matt

8pnoodles

Pre nups in this country are generally ignored by the divorce courts.

I think the best thing to do is go see a solicitor. You can get a half hour consult for free at a lot of places.

To maximise your time, I read a tip the other day which was to write down a list of questions you need answering. Or even write the solicitor a letter in advance detailing your situation so they can give you advice quickly as they will already be aware of your situation.

singlefin

GameOver wrote:

Should of got a pre-nup..............lol.

Your not wrong!

southernscouser

Definately seek advice from a solicitor!

I won't pretend to know anything about your sisters problems but common sense tells me to give whatever savings, bonds she has to you or another member of your family and put them in accounts in your name.

The next step I would take would be to phone all the credit card companies and bank accounts that are joint and explain the situation and ask them to freeze the accounts.

You can also try your local CAB office but I think a solicitor would be the best bet!

Wish her luck

lovinlife_2

Not answering the money side of things, but from the violence point of view - you may already have thought of this though. Her local police may have a domestice violence liason unit, and it would be worth getting in touch with them to see how they can help with getting the guy out and keeping your sister safe from any repercussions.

HTH

skintchick

Quote:

Should of got a pre-nup..............lol.

Your not wrong!

have

you're

I have my pedant's head on today