divorce and OH debt

annemarigold

Scenario:

Man has high paid job is divorcing wife and child and racking up debt including possible mortgage default.

Wife has no job and is looking after child but is being very careful with what money she has.

Hopefully there will be equity if the family home is sold.

Does anyone know if the wife is likely to get a mortgage if she gets a job or will her stbx husband's recklessness with money affect her credit rating too?

SunderlandBlackCat

There are a number of factors to consider, not least of which is whether you are named on the current mortgage.

If you are then you are jointly liable for paying it & if he doesn't pay it they can pursue you for payment.

If you aren't named then you can't be held liable although your credit reports are likely to show that you are financially linked. You can apply to the Credit Reference Agencies to have that link removed from your file but I'm not sure if you have to wait until you are legally separated before you can do that.

annemarigold

Joint mortgage

SunderlandBlackCat

If you think he's deliberately going to default on the mortgage payments I think you need to discuss this with your solicitor ASAP