Our house is due to be repossessed and there will be a shortfall of about £25K on a scured loan. This was used by me for my business and I will accept responsibility for the secured loan even though it is in joint names. What now happens to the secured loan and can I take on all the payments without the company chasing my ex wife?
If not, as long as the creditor is receiving payment, then there is no reason they would chase your ex, but she is liable for the full amount of the debt if you can't pay.
Can I take on all payments of secured loan?
Posted - 03 December 2010 : 02:54:11
