Can they really do this to my wife and home?

Easy1

As a young man I got my self in to a real mess with various unsecured loans. I did attempt an IVA many years ago which failed and over time, most of the lenders have either given up chasing, or filed them as satisfied on my credit report. Obviously I have been left with an awful credit history where I cannot even get a mobile phone contract in my own name. I got married 3 years ago (I am now 49), and obviously the mortgage is solely in my wife’s name due to my credit status, recently I have been contacted by an old debt collecting company who say that they have the right to force the sale of my home to pay off the old debt!

Surely as this particular debt and all of the other debts were taken out 15-20 years before I even met my wife, and my home is solely in her name, they do not have the right to do this!

I would appreciate any advise with this, as I am obviously concerned that my wife will suffer for my teenage mistakes. Many thanks in advance

ILW

Is your wife the sole owner of the property?

Easy1

Yes she is the sole owner, although obviously we pay equally.

bargainbetty

If the deed is in her name (not the mortgage, that actual ownership of the property) then they would have a difficult job. You don't own it, they can't claim it for debt repayment. If you are joint owners on the deeds, then they have a claim against it.

Explain to them that you do not own the property. They will faff for a while, but DCAs make all sorts of threats.

Look at the debts that are statute barred and get those sorted out first - search the forum for a template letter. Then sort out repayments for the ones you do have deal with.

Tixy

What debt collecting company has contacted you? about what debt? when did you last make payments towards that debt?

Hollypop_2

It may be worth getting a copy of your credit reports as debts only stay on your credit file for 6 years. so if your talking 15 - 20 years ago these bad debts might now even show up anymore?

kaya

tell them to go enjoy sex and travel, the law is quite clear in this country, you cannot take somebody elses property in lieu of another persons debt, its called theft and its illegal!

AMILLIONDOLLARS

After 6 years the debt becomes Statue Barred. If the debt is 15-20 years old, these people a bluffing. Get a template letter off this site and and tell them to naff-off in the nicest possible way!!

AMD

geoffky

Please answer tixys post..

and relax..you will find out how to treat these idiots and wonder why you worried.