Husbands debt discovered....need advice please!

abitworried

Just to recap, yesterday a letter came for my new husband at our house (first together) from a DCA relating to a CC debt of over £11,000 from at least 4 years ago at an address he shared with his Ex Wife. It was a massive shock as I did not realise he was in any sort of financial trouble but last night I confronted him and found out it was just a very small drop in a very large ocean. I am hurt and angry that I did not know anything about it, but I also understand how difficult it must be to tell someone (even your partner) you are in a large level of debt.

Now it's just a question of what to do next....

He has been burying his head in the sand for so long he did not know what he owed and to who so we started last night by checking his Equifax report for some more information (here's where it gets interesting...:rolleyes: ) and there is over £100K of unsecured debt on there.:mad: The largest debt is an outstanding loan from Northern Rock for £32,782 which is related to a property he owned jointly with his Ex Girlfriend..from what I can work out they got a certain amount of mortgage and certain amount of loan and put some of the loan down on the property and then had some left over to decorate...IYKWIM The flat was sold a long while ago and because they didnt have it for very long it didn't make anywhere near enough to cover the loan they got. Anyway, that means it is actually a joint debt but the whole amount is showing on his report.

The next largest amount is for his car (which I did not even know was bought on HP) to which he owes Black Horse - £18,425. They have actually got one of those attachment of earnings order things on him since before Christmas...I knew his salary had gone down by about £300 but he kept fobbing me off. We live in a married quarter (he's forces) so the money for our house comes straight out of his wage so I assumed it was something to do with that. I spose we are in a fortunate position where we dont have a mortgage or rent to worry about and our council tax and water is covered by the payment we make for the quarter out of his wage so we have a decent disposable income to try and sort this sorry mess out.

There is a list as long as my arm of other loans/CC's and I just don't know what to do...at least 2 of the loans are joint with his Ex Wife (not the Ex Girlfriend mentioned previously). What do we do next? I can't even tell who's dealing with the debts now...i'm pretty sure that some of them must be passed to DCA's by now. Please help.

Natlou_2

Hi there - Im afraid Im not qualified enough to advise you what to do, someone else will be along in a bit to help you out - Im sure of that, but I just wanted to say I really admire your attitude, it must have been a terrible shock for you discover the extent of the problem and yet you have shown understanding for your OH - Well Done and I really hope things get sorted for you.

Natlou x

Ladygrim

Hello abitworried

I can understand your surpirse and concern over your situation - but at least youve made him face up to his problems. I know its scarey right now, but youve come to the right place for advice.

Here's a link from this site, http://www.moneysavingexpert.com/loans/debt-help-plan, and it should help you get a good start on what you need to do to ge the ball rolling.

This will take a while to work through, but remember, these debts didnt happen overnight, so some time is needed to sort it out.

Ive found this site to be wonderful when I needed help - everyone here is so generous with their time and advice. Please dont feel youre alone - many many people have found themselves in similar (if not the same) situation.

Sending you big cyber-hugs for your journey ahead.

LG

abitworried

Thanks guys. I'm going to phone the CCCS this morning, I know they're not technically my debts so they might not talk to me about it but I can at least ask for some general advice. I find it baffling how 1 person can be given so much credit, I have 1 CC with nothing on it and my car on HP but that's it so I am finding it hard to understand how he can of got into this mess...that said I love him and i'm willing to help him as much as I can. "For Richer, For Poorer" has never seemed so apt!!

immoral_angeluk

hi hun. Well done to you for being so helpful and supportive. It's not easy to have something like this hidden from you but your husband must be feeling so ashamed. The CCCS is a brilliant place to start and good luck with phoning them.

Bunnyinthelights

Well done on supporting your husband-having been on the other side of the coin, I know how hard it is to face up to the debt.
What is his situation with his employers and the debt? (Forces?)
Is he still in contact with his Ex's? He needs to get help obviously and he's lucky t have you.
Good luck, keep us posted.

chevalier

One avenue to look at is why the debt is listed as solely in his name on his report? Obviously if they were joint, and the ex gf and ex wife could pay their share, then this would be a major help. It may be that the creditors don't know where these two ladies live, hence why they are not being pursued. If you OH does know their where abouts then he need to decide whether he should just contact them himself and ask them to pay, or whether he should tell his creditors their whereabouts.

I take it that none of these debts are from more than 6 years ago? Ie he has had contact with all of the creditors in the last 6 years?
chev

abitworried

It says he is linked with his ex-girlfriend through the northern rock loan and his ex-wife through 2 of the other creditors so they must be showing on their reports as well mustn't they? My worry is that if we contact these creditors and start repayment they wont bother chasing the Ex's as they're already getting their money.... when you're talking about a loan of £32K it's alot to let her get away with just so we can start getting straight isnt it? Oh god, this is a nightmare.

Bunny - No we don't have contact with either of them, we don't even know where his ex wife is (but it would be possible to find out as she's married to another serviceman now). Basically, he's unable to go bankrupt whilst serving but he could do an IVA. Think this might be the best route.

Thanks for all the encouragement by the way xx

Bunnyinthelights

I would love to have been able to do an IVA-Good luck if you do go down that route-we had too much equity which we would have lost. So, I'm paying it all back slowly but surely!

Adrasteia01

If a debt is over 6 yrs old and he (or his ex I assume) hasn't acknowledged it in that time it is likely to be statute-barred, which means he can't be forced to pay it.

While I personally believe in repaying any debts you take out, this may reduce down the amount of debt he has to pay. Just because a 6+ yr old debt has been sold on to a DCA and they're looking for money doesn't necessarily mean that you legally have to. If this applies then I'd suggest doing a search on the forums for 'statute barred' and you'll find more info. This applies to UK btw.

Valley's_girl

Hi just wanted to wish you good luck you sound a fantastic lady, he is lucky to have you.
Best wishes
Ally x