Missed payments on a Secured Loan

Thrugelmir

xlinephil wrote: »

I dont pay through the CSA, we have a private agreement. I pay £340 per month (as I have them 4/5 days out of 7) but the loan and mortgage together total £695, so my csa money would near enough cover my half, but my ex would stop my access to the kids if I didnt pay her the money, despite the wripple effect that missed payments have on all of us.

Consider consulting a solicitor. As its your children that are going to suffer. If your ex is incapable of managing her finances responsibly then possibly seek guardianship of the children yourself.

Please do seek advice for your children's sake.

xlinephil

Having had some time to think about the situation, I have formulated a plan of action that I think will be suitable. I already have a solicitor on board for the divorce and we aware that the house is an issue, but I always strived to keep her in the house. She also has previously used emotional blackmail in the past about the house and me kicking the kids out on the street, but it seems that she is putting the house at risk all on her own. I have a perfectly acceptable family home for them if needs be that they can stay/live in anytime. Her poor financial savvy will directly affect me and my ability to provide for my kids in the future if this carries on so I'm best biting the bullet and taking her to court asap. My soliciter is under the impression that the judge will order the sale asap as she has had nearly 2 years to sort this mess out, and has had her partner living there for most of that time. I am prepared to accept that I will be chased for all the negative equity on the property but it will be worth it to clear my name and also help reduce my stress levels!
So in summary, put her in front of a judge, fingers crossed that a sale is ordered, and I'll pay off the negative equity. How does that sound?

Dave_Ham

xlinephil wrote: »

Having had some time to think about the situation, I have formulated a plan of action that I think will be suitable. I already have a solicitor on board for the divorce and we aware that the house is an issue, but I always strived to keep her in the house. She also has previously used emotional blackmail in the past about the house and me kicking the kids out on the street, but it seems that she is putting the house at risk all on her own. I have a perfectly acceptable family home for them if needs be that they can stay/live in anytime. Her poor financial savvy will directly affect me and my ability to provide for my kids in the future if this carries on so I'm best biting the bullet and taking her to court asap. My soliciter is under the impression that the judge will order the sale asap as she has had nearly 2 years to sort this mess out, and has had her partner living there for most of that time. I am prepared to accept that I will be chased for all the negative equity on the property but it will be worth it to clear my name and also help reduce my stress levels!
So in summary, put her in front of a judge, fingers crossed that a sale is ordered, and I'll pay off the negative equity. How does that sound?

Sounds like this may give you closure - sure the kids will be bright enough now or in the future to understand any short term issues..

Best of luck

Thrugelmir

xlinephil wrote: »

How does that sound?

Judges will protect the interests and welfare of the children first. On that they will base their ruling.

So you've little to lose.

xlinephil

Thrugelmir wrote: »

Judges will protect the interests and welfare of the children first. QUOTE]

That is my primary concern aswell but I dont know what else to do in this situation. If the arrears carry on stacking up over the next few years, then I could be in serious financial trouble which might affect my ability to provide for them.