Can he ask for it all back? - Update

debt_doctor

Hi,

I agree with JCS1. The few occassions that our local OR has said to third party " pay up please" they have said " havent got it " OR's response was " ok then ! "

There would have to be real prospect of gaining the funds, and the costs to the insolvency service would usually far outweigh the benefit.

For that reason I would leave it alone ( although appreciate it can be difficult) OR may well contact your partner who should write back and say " I havent got it"

He might want to suggest that although he may have got some loans paid off in return he contributed more to the household budget and to other debts, possibly yours. Take some expensive legal wrangling to sort that out.

DD

excel1

Just a point is it a joint mortgage or just yours? if say it was joint and you remortgaged only half of everything is yours isnt it.

Summer1969

debt_doctor wrote: »

He might want to suggest that although he may have got some loans paid off in return he contributed more to the household budget and to other debts, possibly yours. Take some expensive legal wrangling to sort that out.

DD

Thanks for replies everyone. Still haven't heard but I have relaxed a bit about it. See what happens.

I did state in the letter to OR that OH had paid all the bills, mortgage, loan payments, credit card payments, for the past 2 years as I have not been working, not sure if that will be taken into account.

Summer1969

excel1 wrote: »

Just a point is it a joint mortgage or just yours? if say it was joint and you remortgaged only half of everything is yours isnt it.

I have remortgaged twice.

First time, mortgage was just in my name, I hadn't met OH then.
Second time was 2 years ago, it was in joint names then and he has been paying the mortgage off himself solely for the past 2 years.

Summer1969

Got up today to a voicemail from the OR...rang him back and he was out. So I waited, ciggie in hand, cuppa and nervous tummy.

Anyway, he said he wanted more info...he didn't mention OH at all....so I didn't.

But he did want to know about our last remortgage 2 years ago. I told him I had given him everything I had and he said he wants to know what percentage of the remortgage monies went on paying off credit cards and what percentage went on general spending.

He needs to determine (as I had stopped working around that time), did me and OH know we couldn't pay our creditors back but still continued borrowing. I said that I had not planned to be signed off work sick and that I had no idea, that 2 years on, I would still not be working. I explained that every single month I thought I would be better the next month and working but after getting depression, them mum dying, well life isn't always like that. I asked him if I was in any trouble, he said not to worry but they have to investigate whether or not me and OH carried on borrowing whilst I was not working, which could mean, we had no intention of paying it back. I said I understood that they had to look into that, but we had no idea at the time, and that we always made the minimum payments and I always had every intention of going back to work. There was no conscious decision that we knew we couldn't pay anything back. He said that they have to look into this to protect creditors in the future. I said what would happen, worst case scenario, and he said a BRO. I said, would this be financial payments and he said no, but my discharge would be extended. Well to be quite honest, I couldn't give two stuffs about that, (didn't say that to him obviously...) - it was whether or not they would want money off us. Anyway, I have to try and find out more information from my Bank Statements, as to where all the remortgage money went, I have already given him this but if he wants it duplicated, then I shall just send it to him again and he will make his decision.

Still not a solution, but keeping fingers crossed that they won't want any money off us and if it means an extended bankruptcy for me, then so be it.

I also told him that the flat has now just gone into negative equity since putting it on the market in March, and he said they would have no interest in it but if we wanted to move (which we do, desperately, we want to go into rented), we could ring the mortgage lenders and talk to them - I suppose about handing the keys in. I am quite happy to do this as I really need to move but need to know the ramifications for OH (with credit rating and possible mortgages in the future) as it is in joint names - so need to look into that.

Thanks everyone for your replies. I shall keep this thread updated.

dalip

Summer it sounds better than the last time so at least you are heading in the right direction. The only problem i have is that he said it would delay your discharge. A bro does not delay discharge. You still get that regardless at 12 mths. It does impose restrictions. Maybe he is new and feels he has to cover all bases. Anyway keep us posted and good luck AGAIN;)

Summer1969

Oh yeah, I understand. I will still be discharged after 12 months or sooner, but the restrictions could be longer. Well that doesn't matter to me, we were just worried about having to pay something back!

Anyway, I am compiling a letter to say we applied for our last remortgage 3 months before I was signed off work with stress, so it was not preplanned. And I also worked for a couple of months at a pharmacy a few months later and did a little temping on and off for a short while, and I also did not sign on. So am hoping he will see that we did not apply for the credit with the conscious knowledge of knowing I would be unemployed as I could not have known I would get depression and not be working for so long. Will see what happens. Thanks.

dalip

Summer i really don't think you can explain any more than you already have. I really hope this i over for you soon girl.Dx

fiveyearplan

I had the same questions about getting credit. If you paid the minimum payments for some time before defaulting I think that answers the question! I serviced all my credit cards for years before defaulting and didn't use them for about 18 months before BR. It was all fine, he just had to investigate.

Summer1969

Well, I sent all the info back over 3 weeks ago, special delivery, providing proof that we didn't take out the remortgage knowing I would not be working, and still haven't heard anything. No news is good news I hope. We are not stressing about it anymore, I have had enough months of stressing and sleepless nights, will just wait and see. Thanks to everyone for their kind advice. xxx