debt with ex partner

gemma66

hi all, new thread any help would be great,

my ex husband left some years ago and now im with new partner and we are both fortunately on a decent wage where we can save for a mortgage in the next couple of years. i wonder where i stand with debt still owed by myself on a joint application with my ex husband, as i would bve prepared to clear my half but he is adamant he wont clear his. would a mortgager be even interested if i had the deposit and a regular decent wage if i declared bankruptcy or cleared my half of the debt etc

really need some advice on this so any ideas where to go also would be great.

thanks

gem:beer:

themull1

Do you mean mortgage debt with your ex or different debt? how much debt?

mildredalien

I'm not sure there is any such thing as 'my half' of a debt - usually when you sign up to an agreement you are both jointly responsible for the entire debt rather than for each of you agreeing to pay half of it.

That being said there may be some other way to help but you'll have to give a few more details about the debt.

gemma66

hi,

thabks for responding. the mortgage was cleared but as you may or may not be able to appreciate i want to move on but he as a person financially does not as he is happy with benefits.

we both borrowed money as a joint app. and paid back together i stopped paying the outstanding amounts when he decided he was no longer contributing towards the repayments. as you could imagine i do not want to clear the debts so he can be debt free enabled by me.

the debt o/s is about 5500 one ccj for 3500 other is credit cards.

thanks for replying

gem

Mach4

Gemma,

Unless this is a very unusual credit agreement then your are both jointly and seperately liable for the full outstanding amount.

This basically means you are liable for the full amount.

If you want to move on you will need to first ensure the cc/loan is closed so your partner cant run up any more in both your names then pay it off in full. Its rubbish that you have to pay it but that is the contract you signed up to unfortunatley.

Realistically if the agreements have defaulted you are going to struggle to get a mortgage (certainly at a half reasonable rate) for 6 years after the default.

BobQ

gemma66 wrote: »

hi,

the debt o/s is about 5500 one ccj for 3500 other is credit cards.

gem

So to be clear....

you and your ex have a joint mortgage on which you jointly owe £5500

you also jointly have another credit card debt for £3500 on which there is CCJ against you both for repayment.

Is he still living in the mortgaged house?. I ask because I wonder if there is any equity to be released by the housebeing sold/repossessed.