What did Capital One Homeowner Loans Ltd lend for?

Metalmama

Hello,

I have recently run a credit report after discovering my ex husband had affected my credit rating from his multitude of debts (I have filed financial disassociation forms since, and we have no linked finances now, other than the mortgage).

I have just found that he took a loan out in the above name some years ago. This did not come up on a credit report I ran some 6 months ago, and the loan was taken out in 1999, last updated 2006.

I have seen that this company has closed, so wanted to know:

A.) What did they lend money for (was it home improvements? If so, we had none).
B.) As I am linked to it, would it be attached to the mortgage company in any way (Yorkshire B.S.)
C.) As I know I didn't sign up for any loan (am very financially cautious), why am I linked to this loan?

Thank you everyone.

peaceandfreedom

Metalmama wrote: »

Hello,

I have recently run a credit report after discovering my ex husband had affected my credit rating from his multitude of debts (I have filed financial disassociation forms since, and we have no linked finances now, other than the mortgage).

I have just found that he took a loan out in the above name some years ago. This did not come up on a credit report I ran some 6 months ago, and the loan was taken out in 1999, last updated 2006.

I have seen that this company has closed, so wanted to know:

A.) What did they lend money for (was it home improvements? If so, we had none).
B.) As I am linked to it, would it be attached to the mortgage company in any way (Yorkshire B.S.)
C.) As I know I didn't sign up for any loan (am very financially cautious), why am I linked to this loan?

A) The 'HomeOwner Loans' refers to the fact that you need to be a homeowner to get a loan - the loan was always secured against a property. Don't know if the loans had to be for anything in particular but they wouldn't have any way of ensuring that the money is actually spent on what the applicant says it's for. Capital One were mostly what we would now call a 'sub-prime' lender.

Not sure. Capital One acted as brokers as well as lending money themselves. I am not sure if they did mortgages or just secured loans. Perhaps your current mortgage provider needed to be aware of the loan. Don't know enough about this aspect of it.

C) Could your ex have applied for a loan in both your names without your knowledge? The loan was presumably secured on a property which you and your ex jointly own - in which case the application would need to be joint to be approved.

Has the loan been repaid? If not, as the last update was 2006, is the debt not now statute-barred? I think Capital One Homeloans shut up shop in 2006 and cleared off back to the US. I've no idea what they did about outstanding loans.

Thrugelmir

Is there a charge on your property?

Metalmama

Hello Again,

There is no charge on the property, I checked the account and rang up and spoke to someone this morning.

C) Could your ex have applied for a loan in both your names without your knowledge? The loan was presumably secured on a property which you and your ex jointly own - in which case the application would need to be joint to be approved.

This is my concern too. I have called Capital One but gone through to an answer machine. I will keep trying.

Has the loan been repaid? If not, as the last update was 2006, is the debt not now statute-barred? I think Capital One Homeloans shut up shop in 2006 and cleared off back to the US. I've no idea what they did about outstanding loans.

I do not know, there is nothing on the mortgage so am unsure where it stands at the moment. Hopefully when I get through, I may get some answers.

You have been very helpful, and I am very grateful for the answers you have given me, so thank you very much as this whole thing has made me incredibly worried.

JimmyTheWig

Not particularly related to the Capital One loan, but am I right in thinking that you can't do a financial disassociation if you still have a joint mortgage?

peaceandfreedom

Metalmama wrote: »

I do not know, there is nothing on the mortgage so am unsure where it stands at the moment. Hopefully when I get through, I may get some answers.

You have been very helpful, and I am very grateful for the answers you have given me, so thank you very much as this whole thing has made me incredibly worried.

Glad to have helped a little.

As there is no charge on your property, the last update related to the Capital One loan was 2006 and you haven't ever been contacted about this loan, I would say there is nothing to worry about.

Are you able to see the loan on Noddle (for example)?

Metalmama

Thanks both.

I have contacted Equifax who ran the report and they said they would complete a disassociation form, but of course as you have mentioned, cannot do anything about the mortgage.

I also completed one with Experian, are you aware of any other companies you should file the form with?

Not heard of Noddle, so will check that out.

Again, thanks as you have been a huge help.

:T:T:T:T:T:T:T