What would YOU do in my situation?

embrace1204

Hi

I've been asking myself for the last 2.5years what to do about my situation. I'll outline it here and can you please let me know what you would do?

October 2005 I bought a house with my ex fiance
April 2007 i ended our relationship and put house on market - sale fell through 3 times
July 2008 I left the house but kept paying my share of mortgage
Feb 2009 he stopped paying anything towards the mortgage even though we're jointly liable
August 2009 I've been made redundant with no redundancy pay and he's still not paying

I have mortgage payment protection that will pay 60% of the mortgage but how do I cover the 40% when he left his job and ran back to his mummy?

I also have approx £37,000 of unsecured debt in my name (currently with CCCS) and there's a £24,000 unsecured loan in mine and my ex's name.

I get married in November and I no longer live in the house but have fought to keep it and to pay my debts, however I no longer have a job, if I could get him off the mortgage etc I'd do an IVA once I get a new job but as N Rock refused me I can't get him removed from the mortgage.

It's all a mess and i've kept everything going for 2.5years whilst he's bummed around for most of that - what would YOU do in my situation?

ETA: there's only about 5k equity in the house currently

:mad:

rog2

Have you discussed your situation with CCCS?

embrace1204

no, not yet. They're on the list of people to phone. At the minute i'm very depressed and just trying to keep afloat and contacting the people that I still have payment protection with to get them to pay the bills for now.

Anytime I speak to CCCS I feel 'judged', they're not as bad as NDL but I still find some of the advisors very patronising, I get the feeling alot of them are young people that have never been in this situation.

philnicandamy

Difficult as it sounds CCCS dont tend to judge people...I know there can be the odd one sometimes where you think they're having a go...BUT they're there to help you anyway they can & from experiance 99% of call handlers are usually pretty good....have you tried posting a question to an advisor direct here

http://forums.moneysavingexpert.com/showthread.html?p=24236937#post24236937 they usually do their best to answer ASAP....one things for sure though you NEED to get some professional advice soon as poss

Hope all goes well

Phil

Feelingfoolish_3

embrace1204 wrote: »

Hi

I've been asking myself for the last 2.5years what to do about my situation. I'll outline it here and can you please let me know what you would do?

October 2005 I bought a house with my ex fiance
April 2007 i ended our relationship and put house on market - sale fell through 3 times
July 2008 I left the house but kept paying my share of mortgage
Feb 2009 he stopped paying anything towards the mortgage even though we're jointly liable
August 2009 I've been made redundant with no redundancy pay and he's still not paying

I have mortgage payment protection that will pay 60% of the mortgage but how do I cover the 40% when he left his job and ran back to his mummy?

I also have approx £37,000 of unsecured debt in my name (currently with CCCS) and there's a £24,000 unsecured loan in mine and my ex's name.

I get married in November and I no longer live in the house but have fought to keep it and to pay my debts, however I no longer have a job, if I could get him off the mortgage etc I'd do an IVA once I get a new job but as N Rock refused me I can't get him removed from the mortgage.

It's all a mess and i've kept everything going for 2.5years whilst he's bummed around for most of that - what would YOU do in my situation?

ETA: there's only about 5k equity in the house currently

:mad:

Hi
Sorry to hear about your situation and congratulations on your impending marriage.

What to do - no-one can tell you really but here are my thoughts

How long do you think you will be out of work? Obviously all depends on what you do as to what is available out there?

Have you applied for JSA? I know its not much but would it help towards the 40% of the remaining mortgage?
Could you ask for a payment holiday until you return to work?
Who lives in the house now? Do you have tenants?
You will need to stop your DMP for now and just make token payments until you are back in work.
Bankruptcy is obviously a choice for you however with equity you would then either lose the house or need to find the funds to buy the equity back from the OR
IVAs - Im not a great fan but they can work for some, mind you if an IVA had been an option for you then CCCS would have suggested it

I used to work for CCCS but now work for Community Legal Advice. CCCS are great and some lovely people work there so please dont feel judged, CLA are specialist debt advisers who can give you more legal help. If you want to talk it over with a specialist then give them a call although due to conflicts of interest then they wouldnt be able to help with your unsecured debts unless your DMP had ceased however they could offer advice regarding your house/bankruptcy etc....
(To be eligible for advice from CLA then you would need to be on a low income or in receipt of benefits)

Hope that helps a bit

(Im not here to promote anyone but just offering alternatives, hope that is ok with you good people)

rog2

Feelingfoolish wrote: »

Im not here to promote anyone but just offering alternatives, hope that is ok with you good people

Not at all, Ff - we often recommend that people contact 'Community Legal Advice' and I will, happily post their contact details:

https://www.communitylegaladvice.org.uk - tel. 0845 345 4 345

Please note: Telephone lines are open from 9 am to 8 pm, Monday to Friday and from 9 am to 12.30 pm on Saturday.

Feelingfoolish_3

Cheers Rog :-)

embrace1204

Phil - I haven't yet posted a question as I know the answer will be 'phone us' which I will do, I guess then i'm admitting that's there's a much bigger problem that they don't know of.

Feeling - I applied for JSA yesterday, hated it! I think i'll be out of work for anywhere between 1-5months, I hope it's not longer as i'm only 4 days in and feeling emotionally unstable! I have a tenant in the house until January and then she's moving back up North. So until she goes I can do the mortgage just (there is a deficit even with her rent as we have a HUGE mortgage!) And at the time I went into a DMP the CCCS weren't doing IVA's and it's not been raised at the reviews either.

affluenza

Hello, quite frankly I would stop paying - it is all going tits up anyway. Why are you fighting to keep something that is the past for you, which by the time it has all been resolved will have eaten the whole of the equity.

I think rather than fight a losing battle, start saving the money and go BR; if there is anything in joint names they will try and recover it from him. He made the decision to refuse to help you, (which echoes my situation - difference being married).

In the first instance I would suggest you get some professional FREE help from CCCS and debt charities - but my gut feeling is that you would be best to walk away from it and start new with your new relationship. Learn lessons from what has happened and keep everything separate.

Good luck!

One last thing - and I do hope that you have done this. Have you told your fiance how much debt you are in? If you haven't done so, I think you really need to discuss it with him because it could impact future joint borrowing. The last thing you want is to have to try and explain it when you have looked at a new home and you are going through the mortgage application (yes I know if you go via IVA or BR it might be a bit of a dream at the moment). I don't mean to offend or depress you - so please take that in the spirit of concern that it is mean.

embrace1204

Hi Aff

Yes my fiance knows everything. He's also told me the same as you but the fact that my ex will affect our future borrowings are what's making me want to keep fighting to keep the house

embrace1204

Well I've contacted CCCS who weren't helpful at all, I then contacted CLA but because my house is rented out I don't qualify for free advice, so I then contacted NDL who were fantastic!

I'm going to keep the house going until Jan when the tenant leaves, try and get the house in my name only again, if N Rock refuse again then i'm going to go bankrupt as I can't spend the next 20 years having a financial tie to my ex fiance!