A right old moan - Ex boyfriends, Picture loans and T&C's

poohwithmoney

Hey,

Sorry this is an epic, having a nightmare day and just want to rant!!!

Posted on here quite a few times about the issue i have had with finances with my EX- Boyfriend. Quick run through, we brought a house together and had to do it up used loans and my credit cards:mad: He then had an affair and i moved out the house back to my parents as i couldn't afford to move back to my flat with all the debt. Anyway my Ex convinced me to keep the house on as we would be charged early redemption for changing the mortgage. Fast Forward nearly two years and the mortgage is about to come to an end. He always said (in writing) that when this happens he'll either buy me out or sell. Well he has decided to sell the house but the profit (if we get it) will only clear the loan we had on the house for the works we had done. I said that we still had £10,000 on the credit cards which we used to pay for works but he said is's unlikely this will happen. I am sooooo furious - all he has given me towards the £20,000 worth of debt we originally had on the cards is £750, he said he can't give me anymore as his new girlfriend doesn't like it!!!.

Does anyone know if i have any legal rights as he has admitted in writing that he agrees that the credit card debt is associated with the house?

Another thing as well is on my flat i have a secured loan on my flat which i have to pay £397 per month, massivley struggling to pay this as the interest rate is 9.8% - i've had the loan for 2 year and have a massive 23 years left to go :eek: I've asked picture if i can have the interest rate lowered but they are refusing to budge and told me to borrow the money to pay it or they'd take my flat (which i rent out for no profit). Has anyone had any success with picture lowering interest rate.

Last thing i owe Littlewood(£1000) and Kays(£400) money but as i'm stuggling i offered them both £50 a month until the accounts are clear. They both refused and keep adding interest, late payment and reminder fees to my accounts. They have now both said they are going to send me defaults, i never signed any T&C's i did request they send me them if they think i did sign them.They haven't sent them so can they send me default notices.

Thanks for reading xxxxxxxxx

jen_a_c

Hello.

Sorry to hear you're having such a hard time. I'm not an expert, sure someone better equipped will be along soon, but didnt want to read and not post.

Could you consider taking your ex to court for the credit card debts, or a proportion of them? maybe even the threat of it would be enough for him to pay up. Do you have statements to verifiy that the money was spent on home improvements?

poohwithmoney

Yep have all the statments - luckily i'm really good at keeping all my statements :-)x

lcazma70

Hi, what a terrible ex -b by any standards. I think the time for trusting him is well past now. He is showing his true colours so seek legal advise. Does your local authority operate a debt advisory service? the catalogues usually respond when they see you have support. Your doing well and there will be plenty of very practical and sound advise to follow so keep it going. Success will be settling and unltimately improving your position where as ex will carry on from female to female. Most probably the girlfriend knows nothing of what s coming to her!! Take carexx;)

LoveMarmiteOnJacketSpud

I know exactly where you're coming from. To cut a long story short...or at least shorter!!! My scumbag ex-bf, who i was only with about 18 months, wiped out £10k of my savings and left me with £12k debts. He was a lying lowlife who did it to 2 others before me and probably moved on to more after that. Your ex, just like mine, will keep doing this to people and will never change. The new gf will prob know nothing of his debts and he'll do the same to her. Concentrate on sorting yourself out and think nothing more of him as you're well shut. What about selling the flat and trying to pay off as much as you can to wipe the slate clean?

X

poohwithmoney

I thought about selling the flat but i have a secured loan on it and not enough equity to cover the picture loan - Picture said i'm not allowed to sell the flat as i'll have nothing to secure there loan against x

gfplux

Hello poohwithmoney,

It seams to me you have two distinct problems.

Number one is a "legal" financial dispute with ex boyfriend.
To sort this out you need legal advise. my suggestion is first ask here http://boards.fool.co.uk/Messages.asp?mid=11627115&bid=51110
Just ask the legal questions. Then perhaps you may move on to seeing a soliciter.

Number two is your debts.
This you have to sort out with your income and outgoings. (perhaps in the future getting some money from problem one above. Do not count on getting any money quickly) Make out your SOA (link - http://www.makesenseofcards.com/soacalc.html ) Try not to guess at the figures, dig out the paperwork! However remember a partial completed one is better than none. It is in fact one of the most important things you will do to start on the road to recovery. If you want a lot of help on this forum, posting your SOA is the first and most important step. After it is done it is very easy to keep it up to date.


Next Start a spending diary TODAY to find out exactly where your money goes. That knowledge will give you power.


Come back when you have done those things and we can start with help and advise.
Good Luck

Fire_Fox

If you have credit card statements that show £20k of purchases of household or DIY items, no record of payments from him to you, and a latter admitting liability I don't think you will need a solicitor. Just take him to the small claims court - the system is set up for the average (wo)man to use without legal representation. It may be he starts paying as soon as he gets the court papers as he will know you are serious.
http://www.hmcourts-service.gov.uk/infoabout/claims/index.htm

Also I assume you have the permission of the mortgage company to let your flat, and also have informed the taxman? You must declare this income even if you don't make a profit.

david_hellier

gfplux wrote: »

Hello poohwithmoney,

It seams to me you have two distinct problems.

Number one is a "legal" financial dispute with ex boyfriend.
To sort this out you need legal advise. my suggestion is first ask here http://boards.fool.co.uk/Messages.asp?mid=11627115&bid=51110
Just ask the legal questions. Then perhaps you may move on to seeing a soliciter.

Number two is your debts.
This you have to sort out with your income and outgoings. (perhaps in the future getting some money from problem one above. Do not count on getting any money quickly) Make out your SOA (link - http://www.makesenseofcards.com/soacalc.html ) Try not to guess at the figures, dig out the paperwork! However remember a partial completed one is better than none. It is in fact one of the most important things you will do to start on the road to recovery. If you want a lot of help on this forum, posting your SOA is the first and most important step. After it is done it is very easy to keep it up to date.


Next Start a spending diary TODAY to find out exactly where your money goes. That knowledge will give you power.


Come back when you have done those things and we can start with help and advise.
Good Luck

Another way of using a spending diary is to allocate a weekly amount to yourself per week, from your budget after all essentials have been deducted. Using receipts, deduct as you spend through the week. Try to get to the end of the week leaving some over to carry forward to the next week. This has the effect of keeping your overdraft down and avoids overspend.