help me! debts been sold 2 another company

worriedwife_3

please can someone advise me? i have een married 4 nearly 2 years an I know my hubby had had debt prolems b we got 2gethr.yesteray 2 letters cameout othe blue saying that 2 old debts(5 yrs old)have ben sold to a debt colection agency nd they are asking 4 payment.I have no idea how he was found as there is nothing to connect him to debts but thats another story.He refuses 2 deal with this and has destroyed letters and is ignoring them.I am worried now as the house is solely mine and always has been and I pay all the bills and everything here is mine b4 we got together and I am worried that bailiffs will come round and seize whats mine and not his. All he has himself is a car which i supoose is worth about £3500. I want to help sort this mess out but he thinks if he ignores it it will go away. The main debt (£4500) came from a bank loan he took out 6 years ago. he paid off a few instelments then lost his job. he informed them and he said that he hard nothing off them for 2 years. The other bill is an old c c debt of £400.Can anyone tell me what this company is likely to do? I didnt even know that debts could be sold. He didnt leaver anyforwarding address from his rented property where the loand were taken out but he says he heard nothing from them b4 he left. could the debt be transeferred to my address therby making me uncredit worthy? I am going sick with worry here and think i will contact a debt advice place on monday but hope somone can help me in the meantime. thank you

CLAPTON

some things then

assuming the debts are in his name then you have no liability for his debts and bailiffs can't take any of your possessions.

if he has had no contact with the companies for six years he may be able to use the statute of limitations and so avoid paying the debts
see for more details:
http://www.payplan.com/debt-library/joint-and-several-liability-the-limitation-act-1980.php
and
http://www.hmrc.gov.uk/manuals/IHTmanual/IHTM28384.htm


he could of course pay the debts ... they dont seem that bad.

you credit rating shouldn't be affected by his unless you have joint bank accounts or mortgage or loans. in this case there would be a financial association between you which might cause you some difficulties.... best to check your credit files and see what they say.

the issue about bailiffs is a bit complicated but basically, his creditors would first need to get a CCJ; then they would have to apply to the court to enforce the order. only then can they sent the bailiffs round. This is unlikley but not impossible.

his creditors may have found him if he is on the electoral roll. he may consider getting his credit record so he can see if there are any CCJs or what creditors he has.

Broken_hearted

If I've read the post right the debt are only 5 years old and they have found him so he will have to pay.

Dr.Shoe_2

Yes he will.

Is he working now? If so, he has no reason not to contact them and make arrangements to pay them. He could do this by arranging his own DMP (debt management plan) with the DCAs or by going through CCCS or Payplan. If he does the latter, you may find that they take the entire household income into account when doing the SOA.

Do you pay the mortgage on your own or does he contribute? How are the household expenses divided?

worriedwife_3

Yes. he's self-employed but only working sporadically and he is looking for another job.

I pay all of the household expenses. When he is working he pays me cash which i put towrds food and other expenses

Dr.Shoe_2

It would be very much in his best interest to contact them and to explain the situation.