joint loans/ sold on loans

dominixx

Hi, I separated from my husband 18mths ago. He has a high income, whereas I have been a housewife. He always paid any loans we had. Sometime last year he defaulted on a few loans and credit cards. As I responded to a company, they traced me. (they hadnt at the time traced my estranged husband) The amount is for £10k, I didnt worry as joint names so thought wasnt liable. I have now got a court date next month and beeing threatened with bankruptcy, as have no disposable income. I am on state benefits, with 2children. I have asked the solicitor dealing with the bank (RBS) if they would accept £40 a mnth, and they said no. I have now offered £50 a month. I can see if it goes to court they will say they want their £10k which I cant pay, so will lose my home, which is also in joint names with my estranged husband!
Apparently they are not bothering with my husband as have me, because I am female, because i was scared and because I was vulnerable. Wheras my husband can easily afford the payments, has disposable income and wouldnt end up going bankrupt. Is there anything I can do? Surely, its against their interest to pick on the vulnerable? To put me and my children on the streets, when it was the other party that defaulted, and is quite capable of paying? (hes on £30k a month in a secure job) I am now beeing treated like scum, I have several court cases, and am in a right mess, all because of a marriage breakdown, though that was bad enough. My ex, has been trying to ruin me, as hasnt co operated with csa neither, so I have nothing to show the creditors. Can I make them accept £50 off of me and then get them to accept I dont know £100 a mnth off my ex. Why should I be destroyed? I have a family member that would be willing to help me, but not to bail my husband out again, if the worst came to the worst, has anyone had dealings with only paying half? I I could get enough pple to lend me £5k?
I cant get loans, I have a poor credit rating, I only have an electron card. From a good lifestyle, ive been totally stitched up. Ive never been in trouble before, or dealt with court cases or solicitors. I dont know the law, I am scared, very stressed, not sleeping. I live in Scotland, my husband in England, and am 35. I have 3wks untill my court case, Its only £10k, which in the scheme of things is nothing. Can a company with so many millions ruin, a female and children and make them bankrupt? specially when the other party can pay. What would be a good offer to them? I know they want all their money. But I get about £730 a month for the 3 of us to live, I have never dealt with any of this.
Help, Im desperate

arobertoa

hi, try not to get too stressed, is this debt secured against the home, if not the bank cannot take your home from you only if this loan is secured on the house that they could do this, get yourself to the CAB, i promise they will sort this debt for you, as for your ex ? £30k a month?and he leaves you in this situation? give the bank as much info on his whereabouts and tell them to chase the money from him!, then instruct the bank that you are recieving medication for financial stress and to send all correspondance to your local CAB who are taking care of all your financial difficulties,

Uptomyeyesindebt

Hi hun, please get yourself to the citizens advice bureau ASAP. You should be eligable for legal aid surely, but the CAB will definately point you in the right direction.

Do you have an address for your ex? Or can you trace him through in laws or friends? Would his employer know his whereabouts? I know you say they are not interested in him as they have you, but surely it is in their interests to track him down as they will get more out of him.

I know it all looks awful at the moment, but you will get alot of support and advice on here. Hang in there girl!!

dominixx

Thankyou, to the help and advise so far....
um, the debt isnt secured on the house luckily...
...um, and typing error should of been my ex is on £30k per annum, but has loads of disposable income.
Um, yea, have forwarded his details...

Problem beeing house is in joint names still, luckily I have 2children.
My estranged husband is still paying the mortgage, but he wants the house sold, so that he can pay off his exspenses and so he doesnt have to provide a roof over his childrens heads.
I was on medication, and did fall for this, and did agree to sell, but have changed my mind, now, knowing I would be worse off each month, and realised what he was doing.
As have been off anti depressents for a few months, untill this has happened!
Other problem beeing, its scottish law. You dont have baliffs or ccjs, but do have bankruptcy.
Its only a small debt, but I dont have any disposable income. if they bankrupt me, they can put the house up for sale, and its away they can get the money off of both of us?
Just anxious and stressed, that my ex can get away with this, that I have to face court, and he can still force us out of our home.
I have been to cab, but they say its a tricky one, and have urged me to get a solicitor. Which is also difficult as on Legal aid.
The bank is just after me, lol.....x

arobertoa

hi hun, been in debt myself and agree that it does get scary, i still do have a lot of commitments myself just try not to worry too much, now back to this debt of yours, firstly ,you have made a reasonable offer of repayment so the bank will try to scare you to up the monthly offer a bit more, i,m suprised that you have to go to court though, they cant get blood from a stone , court may decide cos you have 2 kids that you pay them less each month, .stick to your guns with the offer you made, its more than you can afford so just call their bluff I,V BEEN THERE !, THEY WILL ACCEPT YOUR OFFER.

dominixx

Brill, is this true? I did think court would go in my favour, but now not so sure?
Um, yea, scottish law, if dont turn up to defend get issued with a decree against me, not sure what that implies. Proper court case Oct 16.
Thought they would back down, due to court costs.
Yea, have no disposable income, just on benefits, child tax, child benefit, and csa...
Offered £40, as said no, presumed they want the whole £10k, so will bankrupt me? so can get house? Does this happen, or am I just presuming?
Problem, estranged husband whose debt also is, owns half the house?

But surely not ethical a bank with so much money, making me and my children homeless? Divorce not setteled yet. Some say they will have to wait for divorce settlement to be finalised?
Would struggle to run bank account, and get private rent if bankrupt?

Have now offered £50, but they want me to fill in their expenditur/income sheet, which includes assets, life insurances, car. Worried might cease these. Obviously single mum with 2 children, dont want to lose my life insurance, or car....Live in the sticks....