Loans & Mental Capacity Act?

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  • takman
    takman Posts: 3,876 Forumite
    Combo Breaker First Post
    Hello,

    My late father passed a few years back, he suffered aggressive dementia for approximately 3 solid years before finally going. He racked up a heap of debt within this time frame in the form of missed mortgage payments, various high interest loans and other ongoing bills

    I've seen some of the contracts he had signed and the latest signatures, in comparison to the first few he signed (about 2 years apart) are just scribbles by what looks like his 5 year old self.

    We have now paid all the nasty debts in full. Paid by his estate. In an ideal world I would've taken these companies to court, but my solicitor advised at the time that it's not worth taking any risk disputing anything last minute of the sale, as the sale was set to commence, the buyer had been waiting so long (we had problems with probate), and obviously the high interest mortgage was still ticking over.

    The debt amounted to around £850k. Is it too late to dispute ANY debts that have now been paid? As I feel people knowly took advantage, allowing a disabled man sign legally binding contracts, continuing business when he was obvioulsy deteriorating, leaving his family with next to nothing. Also, my solicitor informed me recently that there are a few others chasing money, again, armed with contracts with invalid signatures. There isn't even enough money left to pay them off if we wanted to. Advice would be appreciated. In the UK.

    Like the poster said above why didn't any of his family, including you, help him when he so obviously needed it according to you. Why were you and your family not making sure he didn't enter into these agreements if they were such a bad move?.

    Also it's very bad taste to complain about his family not inheriting any of his money.
  • BrassicWoman
    BrassicWoman Posts: 3,202 Forumite
    First Anniversary Name Dropper First Post Mortgage-free Glee!
    so what did he spend £850k on? That may be a better route to pursue. No assets from that level of spend at all?
    2021 GC £1365.71/ £2400
  • Silvertabby
    Silvertabby Posts: 9,022 Forumite
    First Anniversary Name Dropper Photogenic First Post
    The debt amounted to around £850k. Is it too late to dispute ANY debts that have now been paid? As I feel people knowly took advantage, allowing a disabled man sign legally binding contracts, continuing business when he was obvioulsy deteriorating, leaving his family with next to nothing. Also, my solicitor informed me recently that there are a few others chasing money, again, armed with contracts with invalid signatures. There isn't even enough money left to pay them off if we wanted to. Advice would be appreciated. In the UK. Originally posted by JerryHatrick

    I do hope that you took legal advice before you started to pay the unsecured debts - if there wasn't enough money left to pay them all, then the money available should have been shared between the unsecured creditors on a pro-rata basis. Paying some in full and ignoring others could leave you in a very sticky situation.
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