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| Anita.02 |
Posted - 08 June 2011 : 13:31:46
Hi my son split with his partner last year they had a joint mortgage she moved out and went bankrupt for debts in her name ie, car credit cards,hp etc My son couldnt get a new mortgage to buy her half and moved out 2 months later The house is now repossesed and up for sale at £30k under what they paid and with costs and non payment theres possibly another £10k on top of that His ex partner is discharged next month roughly about the same time the house may be sold Whos responsible for the debt? She didnt include the mortgage as they werent behind with it But why should he take her debt and have to pay What happens next? |
| 4 L A T E S T R E P L I E S (Newest First) |
| Viki.W |
Posted - 09 June 2011 : 14:21:29
No, she's not liable unfortunately.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
| Anita.02 |
Posted - 09 June 2011 : 12:30:22
Thanks for the replies she is discharged from her bankruptcy next month so if the house doesnt sell before that will she be liable bearing in mind its a joint mortgege and she didnt include it in her bankruptcy
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| Blackie |
Posted - 09 June 2011 : 09:56:10
Hiya Anita.02
Your son and his ex partner, because they were joint mortgage holders, they are both jointly and severally liable for the debt and any shortfall. If his ex cannot pay because she is bankrupt, unfortunately your son will have to. It may be that he will have to become bankrupt as well and I suggest that you ask him to take professional advice, perhaps from an expert on this forum.
All the best
John Blackadder
Bankruptcy365
For help and advice on the easiest and most effective way to a debt free future, please go to www.bankruptcy365.co.uk. |
| Viki.W |
Posted - 08 June 2011 : 14:37:54
Hi Anita,
Unfortunately your son is going to be responsible for the shortfall.
I suggest he takes advice, maybe from an expert on here, if he needs debt advice.
Viki Warbrooke
Vincent Bond & Co
If you would like free advice on all options available and help with your bankruptcy petition please contact me at http://www.vincentbond.com/about_us_Viki_Warbrooke.asp
Please read my experience of debt via my blog at http://vikiw.blogs.iva.co.uk/ |
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