Debt left by partner

carleton2911 · 20 February 2005 at 1:07PM

My previous partner has left me with debts amounting to £4800 which was supposed to have been paid from the proceeds of the sale of our house. I have agreed to pay £50 per month to the debt collecting agency and would like some advice as to how I can repay this debt, either by taking out a loan for a specific period or continuing paying the £50 pounds per month for an indefinate period. I am 59 and am worried that I will not be working after 65 and obviously want to clear the debt by then.

moneypenny2k · 20 February 2005 at 1:54PM

Before I put my two pennorth in just a couple of questions.
1 Were the debts in joint names, your name or your partners name only?
2 Do you know where your partner is now?

If the debts are in his name only then you should not be paying them at all. They should be going after him not you. Let the agency know that you take no responsibility for your exes debt and that they should contact him, give them his new contact details or most recent contact details if you have them.

If they are in joint names then yes you can be held responsible. Assuming that the debt is in joint names what is happening with the sale of the house? Is it going ahead? If so perhaps its worth your while dealing with the companies and telling them the full situation. Most will be sympathetic if they are kept in the loop.

Failing that I'd raise the the £50 a month to £66 a month as that means you'll have paid the amount back by the time you're 65. Remember no interest is added to the amount outstanding, whereas a loan would incurr interest and thus either lengthen the payment term or put up the monthly payments.

Debt left by partner

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