Old debt

jowmonty

hi I wonder if anyone can help me. My partner had his home repossessed about 4 years ago due to his x partner not paying the mortgage and hiding it from him. He thought when the house was sold the debt had been covered, now a company has contacted him to say that 33,000 is still owed, they have also contacted her (she might be declaring herself bankrupt). How come it has taken so long? He has never hidden where he was is a registered voter and pays all other debts she left him with which he has nearly finished paying. Is there anything he can do? Is there anyway to find out what was paid as he has no paperwork as lost everything, slept in his car for a while until the council could house him. :mad:

Meeper

Yes, there is something that he can do.

He can pay the debt that he accrued, as it is his responsibility. Sorry it sounds harsh, but there we go. Everyone shouts at the banks for profiteering and squeezing the people but part of that is because some don't pay their debts back.

Yes, he can find out what was paid, etc. He can contact the lender who should be able to find the record on their system by using his name, address and date of birth information.

jowmonty

The original lender was Preferred, his financial advisor at the time recommended them, don't know if they are around anymore. I know he has to pay his debt, he has nearly cleared all the others. Her name is on there to but she is going to make herself bankrupt so it will be then down to him to pay the 33000 which I feel is a little unfair.

Meeper

If the lender was Preferred, there must have been some poor credit issues previously also.

It's a shame that she is going to go bankrupt so they will pursue him for the whole amount, but unfortunately that's the nature of mortgages, both parties are jointly liable for 100% of the debt.

Of course if he went bankrupt also, who would there be left to chase?