Loans and divorce!

Gin1998_2

I'm writing on behalf of my sister. She has left her marriage but the loans that were taken out to pay for the wedding and to buy her ex a landrover for the business are all in her name as he had such poor credit rating and was self employed. She can't afford to pay the loans and is working two jobs to try to keep afloat. She's found out that her ex is now selling landrover but is keeping the money and not paying anything towards the loans.

I know that she has tried renegoiating the loan repayments and explaining the situation but her lenders are being less than helpful. What are her options? Her ex isn't going to budge and suddenly become helpful so appealing to his better nature is out of the question!

Is the next step declaring herself bankrupt and if she does what are the long term implications? Will the loan companies go to CCJ to get repayments etc?

Sorry I am worried and don't like to think that there is no way to help or sort this out.

Deleted_User

going2die_rich

Phone the police. He can't sell something thats in her name. Then just go and collect the landrover and sell it yourself.

Xbigman

Was the landrover bought on HP or some sort of car loan that is secured on the car? In which case he can't sell it anyway and she owns it.

Was the loan specificly for the landrover and in her name. In this case she owns it.

Did she take out a bank loan and then give him the money so the Landrover was bought separately? If so she does not own it and she has a problem.

If she is struggling then direct her to the debt free wannabe board, she can get free broadband at the library if not on line.
Regards



X

Gin1998_2

The loans are from Egg and are non-specific. The landrover is in his name so I guess as you say she has a problem.

I will redirect her to this site and hope that she finds some answers to all the issues that are popping up.

Thanks for replying.

Gin

Xbigman

If she posts as many details as possible about her general situation on the debt free wannabe forum she will get some good overall advice.

As to the loans for the landrover. Does she have any proof the money was handed over to her ex, IE bank statements showing a cheque being cashed?
That might be a way forward but it will be an uphill struggle and will depend on many other factors.
Regards


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