Husbands debt discovered....need advice please!

abitworried

Adrasteia01 wrote: »

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.

They're all from 2003 onwards so none of them qualify unfortunately....

southwester_2

Hi

I was in the same position as your husband, I had £27000 worth of debt that I felt I could sort out myself and hid from my wife, the burden of it was growing and growing until eventually I fessed up. It was the hardest thing I have had to do and felt disgusting, ashamed and useless. Your husband is prob feeling the same and I admire you for standing by him, as my wife did. Also once it was out in the open, it was a huge relief, yes it was difficult but we are working towards the debt now and are down to about £16000.We completely rejuggled our finances aimed at getting rid of the debt in 3 years so we can then start saving for a our sons years at Uni etc etc;

Good luck

silvercar

Any joint debt will show on both persons credit reports. They will both be liable for all the debt, in practice the creditor will chase whoever they can find and whoever appears to have money.

If some of these debts are near to 6 years old, this could be a last ditch attempt by creditors/ DCAs to contact him. Be very careful about replying if this is the case.

SunderlandBlackCat

In addition to the usual sources of help such as CCCS, Payplan & Citizens Advice you have some additional resources that might be able to help in some way.

Soldiers Sailors Airmen & Families Association - http://www.ssafa.org.uk/

Royal British Legion - http://www.britishlegion.org.uk/

There may also be others specific to your husbands branch of the forces (RNA, RAFA)

They probably won't be able to offer financial assistance but they will be able to offer advice on issues specific to dealing with debt in the forces.

Hope this helps.

abitworried

silvercar wrote: »

Any joint debt will show on both persons credit reports. They will both be liable for all the debt, in practice the creditor will chase whoever they can find and whoever appears to have money.

If some of these debts are near to 6 years old, this could be a last ditch attempt by creditors/ DCAs to contact him. Be very careful about replying if this is the case.

Thanks, but if we make an offer to start repaying would they no longer be concerned with chasing the Ex's. I don't think it's fair that just because we're attempting to get this sorted out they both get away with not paying anything IYSWIM.

silvercar

abitworried wrote: »

Thanks, but if we make an offer to start repaying would they no longer be concerned with chasing the Ex's. I don't think it's fair that just because we're attempting to get this sorted out they both get away with not paying anything IYSWIM.

Its not fair, but its life!

From their point of view why chase someone who you can't find or can't pay when you can claim from someone who can pay.

abitworried

we can supply them with addresses, that isn't a problem. They are both employed and have no children so I don't see why they shouldn't be persued also.

gas4me

Been searching around the site taday and come across this.
Glad to find its not just me in this situation

I personally hade cc debts of approx 10k and a loan of about 7.5k to pay off over the next two years. I thought that was all the debt that my wife and i had together untill since xmas my wife has been getting calls in the evening from egg, hsbc,halifax,mbna etc. when i challenged her about she became very defensive and refused to share the information with me so that we can sort it out. This has now caused some major rows between us ( we havnt ever argued in 15 years of marriage) and I now feel that we are on the verge of splitting up over it.

I would be grateful of any suggestions for resolving some or all of my problems, I cant eat or sleep with worry

dancingfairy

Hi gas4me if you start a new thread so you can some answers that will be better.

Go back to the debt free wanabee board click on forum tools (I think it is) and then start/create new thread.

abitworried

I'm sorry to hear that she's not really cooperating with you. I spose i've been lucky as my husband is more ashamed than anything else and I think he's found it a massive relief letting me know about it. I know it's easier said than done but you need to try and stay calm with her and reassure her that you're not going to up and leave. The problem is though until she is ready to come clean you're not going to be able to do anything.