signing over debt to husband

Harrie2010

Hi All

I'm desparate for some advice. I've already posted my SOA on here in a previous post but things have gone from bad to worse and my husband has run up more debt. I've got an appointment at the CAB to discuss, but I was wondering if anyone knows the answer to a couple of questions:

1. I have £24,000 debt in my name. This isn't my debt it's my husbands as I swallowed up all of his debts in my credit cards and then consolodated inot one loan. He is quite happy to take it back but he can't get a loan for that much. I need to know if there is anyway that I can sign the debt over into his name.

2. If we divorce is there a way to sign the debt over legally then as part of the divorce proceedings.

I need to find a way, anyway to get this debt into his name. He wants this to, but I'm now scared I'm stuck with it forever (or until it's paid off). There must be a way.

Any advice would be gratefully received.

Many Thanks

Harrie

wot_a_life

I have a couple of those debts that my husband has run up in my name, I have fighted and argued with the credit companies and through a solicitor but it seems that if you have signed then it's your debt.

In my experience, the only way out is for your hubby to get a loan and pay off the debt on your behalf

I would be interested if there is another way

CLAPTON

Its extremely unlikely that any lender will allow the transfer of a debt unless your husband has a suitable credit situation (credit history, salary etrc) that allows for a new loan.

millionaire_in_training

Same here I took on debts my ex ran up that were in my name. Paid most of them off but managed to run up others whilst doing this. Working my butt off now to get debt free. Only bit of advice I can give you is that if you separate at least he cant run up any more in your name. My ex used to sign my name to cheques and everything and it took me ages to realise why my account wouldnt balance. He was a gambler and drank way too much. Although I still have debt I know exactly where I stand money wise and if I am skint then it is down to me no-one else.
Good luck xx

In_Search_Of_Me

aww hugs for you; this all sounds like a nightmare for you. You dnt say whether you are going to divorce or just thinking about it? Re the loan unless he can get a loan to pay yours off I doubt that there is much that can be done, other than to make sure that you dont take on any more of his debts. Do you know where the money is going? Does he understand how serious the situation is? I wonder whether it would be worth you going to relate to try & sort out some of the issues? Just wanted to send a huge hug for you...my x husband used to spend loads and it really is horrendous living not knowing whats what!

Harrie2010

Thank you all so much for your advice. I thought it was the case. It's just ridiculous that you can get half of what a spouse owns, but not their debt!! It's a pretty bleak time and I'm only thinking of divorce as I've had enough of being lied to. I do know that he won't leave me to pay it all off myself, which is one blessing I suppose, but it makes me feel sick to think that all that money isn't even my debt, I was just stupid enough to try and help him out. Amazing how love blinds people eh!!!
Thank you again though, I appreciate you replys.
Harrie
xx