Husbands (soon to be ex) Debt

hannahsmith2499

Ive been with my parter 10 years, married for 4, split up 1 year ago.


Throughout our ten years my husband has had a serious gambling problem.


He had approx £40k in unsecured loans in his name prior to our relationship that I did not know about. Which he decided while we were together, to stop paying back. After years of debt collection letter they finally stopped bugging him, as he never confirmed where he lived etc.


However at the time they stopped bugging, he was able to apply for a credit card again, and unsecured loans, and with gambling soon built up another £50k in total. All unsecured loan or CC, in his name only, but at our address.


He has since moved out, and decided not to pay them back.


Debt collection letters come daily to my house in his name, I just tell them where he lives now.


However we are still married - divorce in process.


And we still have a mortgage together!!


I can not take him off the mortgage yet as I am a student and they wont give it to me on my own?


I pay the mortgage myself - interest only.


There is approx only £8k in equity in the property.


However one debt collection agency took my husband to court for a "land registry - charge against the mortgage??" - I basically got a letter to say : When and if I seel the house, they are entitled to his half of the equity.


I don't know what any of this means, and I am scared what he is getting me into.


I am a good honest person, I have one credit card in my name which I have a small balance on, and pay on time. I was recently declined a student bank account!


I just don't know what to do, I want him off the mortgage, but I don't want to move house, as it is my children's home too! Next doors house also took 3 years to sell so its not going to be an option. please help!

Angry_Bear

I have seen threads before talking about charging orders on houses jointly owned where the debt is on owed by one person. I can't recall the specific details but I think in spite of the "restriction", there is actually very little the creditor can do.

Search the forum for "charging order" - I think the thread might be called "charging orders - the myths" or something like that.

CLAPTON

best to contact a free debt helpline.

if however he is joint ower of the house then he owns half the equity
whilst it may be difficult for them to force a sale they can put a charge on the house (via the courts) so that if ever sold then they would get the share

post on the debt free wannabe board : lots of people have experience of these type of issues there.

Upsidedown_Bear

Duplicate threads here:
https://forums.moneysavingexpert.com/discussion/4875472
https://forums.moneysavingexpert.com/discussion/4875476