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Debt against house on land registry
JOM01
Posts: 17 Forumite
I have about £18k of debt.
It's left over debt on hire purchase equipment from a sole trader business I used to be part of about 4 years ago.
It's been very very stressful as I wasn't suposed to be the owner of the equipment (it was my ex-partners business I helped her start up) but I did end up signing the hire purchase... I was rushed into signing to get it installed before the opening day!!! (I know this was silly).
Now I have split with my partner and have nothing to do with the business (which failed shortly after I stopped having any input).
However the debt from the equipment when to court (I stupidly didn't attend but as said I was not in a fit mental state).
The debt is now on the land registry agaisnt my house.
Q1. Is there anything I can do to remove or clear or reduce this debt?
Q2. Maybe a silly question but, will this stop me re-mortgaging or getting any secured loans etc?
It's left over debt on hire purchase equipment from a sole trader business I used to be part of about 4 years ago.
It's been very very stressful as I wasn't suposed to be the owner of the equipment (it was my ex-partners business I helped her start up) but I did end up signing the hire purchase... I was rushed into signing to get it installed before the opening day!!! (I know this was silly).
Now I have split with my partner and have nothing to do with the business (which failed shortly after I stopped having any input).
However the debt from the equipment when to court (I stupidly didn't attend but as said I was not in a fit mental state).
The debt is now on the land registry agaisnt my house.
Q1. Is there anything I can do to remove or clear or reduce this debt?
Q2. Maybe a silly question but, will this stop me re-mortgaging or getting any secured loans etc?
0
Comments
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Is the property owned by yourself solely or jontly with you ex??If you've have not made a mistake, you've made nothing0
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Owned solely by myself RAS0
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Pity
It is relatively easy to get out of charges on jointly owned property.
Do you have any formal agreement with the ex that she will repay you for the debt?If you've have not made a mistake, you've made nothing0 -
No, it was a messy break and she would 100% deny that the hire purchase was supposed to only be to get it installed, then transfered to her once in.
I'm lucky I got my house back at all!!! but thats another subject...
do you know of anything I could do to reduce the debt or any other options?
thx0
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