Help - long story but bear with me - i dont know where else to turn

allcriedout

I am 40 and was married in 1997. In 2005 my husband and I took out a loan in joint names for IVF treatment @ £15k. In the same year we moved house and took out a home improvement loan in joint names @ £15k. My world fell apart when the IVF did not work, but I also found out my husband was having an affair with his secretary. This put an end to our marriage. We agreed that from the sale of the house we sould split 50/50 and I would be responsible for the IVF loan, and he for the home improvement loan (in actual fact he spent it wining/dining holidaying etc). I paid off the loan for IVF and my ex-husband told me he would get my name removed from the loan (i never received any proof of this). This loan was with CAHOOT.

I have just learnt that the ex is in prison for domestic violence (seems the secretary has learnt the hard way like I had too!!)

Pleased to say that I am very happy in a new relationship, but I always expect somebody to knock at the door chasing the Cahoot money. I have done a credit search through Experian and there is no mention of Cahoot. So, my question is; Do I assume my ex-husband did change the name of the loan into his sole name (I VERY much doubt this!). Did he, by some miracle pay it off - again, I VERY much doubt this. I am scared to contact Cahoot incase they then chase me for the money.

If I buy a home with my new partner, could Cahoot somehow put a charge on the property we buy together (i dont want my new partner to be responsible for paying the debt of the ex!).

I am so confused about how to handle it. Please help - I want to be able to sleep at night and move on with my life.

Thanks to anybody who answers.
L

yorkiepud_2

I'm sure someone with better knowledge than I have will be along shortly to advise you about Cahoot, but you don't have to worry about a charge being put on a property bought with a new partner. A charge could only be put on if both you and the new partner were responsible for the debt.

BigCraigJohn

Sorry to hear of your bad time however I dont think its worth worrying yourself over this and infact I think you are worrying over nothing. In my opinion if you have checked your credit history with all the different agencies and there is nothing there then he has put it in his name. Credit files go back 6 years and it seems if its completely gone then its no longer anything to do with you.
Forget about it and get on with your life, its only money. If it makes you feel better do another check in a few months to make sure there is still no mention of it but i'd say its gone.
If by some chance they do ever contact you then come on here and youll get great advice but for now just move on.

allcriedout

Help again please... I have done another check with Equifax - and it shows that I have a defaulted amount of £15k!!! Seems the ex-hubby did not remove my name or even pay it off. His last payment was in October 2007 (it would have been paid by him - nothing to do with me) but as he has been in prison, I dont expect any more will be paid off.

what do I do - keep my head down and "hope" they dont come knocking at my door for the money? Or get in touch and explain the situation - but I am scared that I will then be responsible for repaying the debt.

Will this ever go away!!

olivia84

man - what a rat! sorry to hear about your troubles but glad you've found someone who seems to deserve you! i'm no expert but if you've never heard anything from them and the only proof you have is from the credit check but you or he have not paid anything or had any correspondence regarding the debt in 6 years does that not make it statute barred? i don't know enough about it to be honest but it's worth looking at. i take it you don't live at the address you were at when you applied for the loan? i wouldn't stress too much about you having to pay it back as it may be statute barred but i wouldn't contact cahoot because then you'l start the ball rolling again. i'd guess it will affect your credit rating for a mortgage with your new partner unfortunately. what date was the default date on your experian credit check?

olivia84

sorry just read that 2007 was the last payment - it may drop off your credit rating after 6 years which will be 2013 - and yea, even though it is a joint loan, you are both responsible for the entire amount; if they can't get anything off one of you they will try the other one. i'm guessing they don't know where you are now and hopefully come 2013 it will be unenforceable and will drop off your credit rating.

good luck

x

allcriedout

Thanks for the reply Olivia84. I live at a different address now but probably think it best to "keep my head down" til 2013 when I can apply for a mortgage. In the meantime I can save for a good healthy deposit. The only thing that concerns me is if I get a visit from a debt collector, but I suppose I will have to cross that bridge when I get to it.

Thanks for advise,

Oneday77

Did your credit file say who the 15k was now with?
I agree with the others just ignore it for now, only 19 months till 2013

If you wanted to get rid of it, wait till someone comes knocking if they ever do and offer a Full and Final Offer as a last resort.
I stress don't go looking for them and this is not guaranteed to be accepted.
After 4 years of no payment any thing offered would be a win for them, especially if it is no longer with Cahoot but a debt collector.
They may have bought the debt for as little as £3000 so a F&F could be a safety blanket.

allcriedout

I will check re who owns the debt on Monday. Many thanks for replying - I've just scared myself to death by reading (not on this forum) that when you do a credit check - you alert debt collectors to where you are currently living. Surely this is confidential data and cannot be sold on? Fingers crossed Equifax wont pass my new address on.. God this is so scary!!

CH27

What date was the default applied?

The default will stay on your file for 6 years.

NeverAgain_2

allcriedout,

You are attempting to avoid your responsibility for a loan, so if you ask the lender they are hardly going to write to say: "That's fine, we don't want our money back."

Making checks on your credit file can only draw attention to yourself.

Your best tactic is to lie low and hope for the best.

No one can tell you if this will work, but it might.