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Unpaid loans - not mine
carolineandlil
Posts: 1 Newbie
Hi All
My 1st advice required post so if my question is in anyway brief please let me know.
Ok... my sister who lives with me in a house that i own has managed to run up a debt with Lloyds bank of £12700, she is not sure whether the loan is secured or not but thinks that it isn't. She does have learning difficulties so it baffles me how she managed to fill in all of the 'required' paperwork.
- Could she have managed to secure a loan without my knowledge.
- Should the bank instruct bailiffs can the manage to gain entry into my property and take posessions.
When i say my property, the mortgage deeds etc are all in my name. How can i make sure that i am protected now and in the future??
Please please help me out here
My 1st advice required post so if my question is in anyway brief please let me know.
Ok... my sister who lives with me in a house that i own has managed to run up a debt with Lloyds bank of £12700, she is not sure whether the loan is secured or not but thinks that it isn't. She does have learning difficulties so it baffles me how she managed to fill in all of the 'required' paperwork.
- Could she have managed to secure a loan without my knowledge.
- Should the bank instruct bailiffs can the manage to gain entry into my property and take posessions.
When i say my property, the mortgage deeds etc are all in my name. How can i make sure that i am protected now and in the future??
Please please help me out here
0
Comments
-
Hi
A loan can only be 'secured' on property that the borrower owns.
So it'll be unsecured.
Bailiffs can only be instructed when there is a county court judgement and it is defaulted on.
So chill...
Now, how severe are the learning difficulties? Did she understand the contract she signed? There is a lot of help available in this area. Have a look at this:
http://www.moneyadvicetrust.org/section.asp?sid=120 -
Mind is a another organisation you can contact - http://www.mind.org.uk/Although no trees were harmed during the creation of this post, a large number of electrons were greatly inconvenienced.
There are two ways of constructing a software design: One way is to make it so simple that there are obviously no deficiencies, and the other way is to make it so complicated that there are no obvious deficiencies0 -
DarkConvict wrote: »Mind is a another organisation you can contact - http://www.mind.org.uk/
Yes, they are good and can put you in touch with legal help if that is necessary0
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