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Help!! Am I liable for my ex's debt?????


car2
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Hi, Im in a real pickle!! My ex and I got into a lot of debt. When we parted I went to a debt consolidation company and am now making regular payments to clear my balances.

My ex did not and is not paying any of his debts.

We had a joint account and a joint loan- after a year- we decided to change the type of loan we had- the new loan agreement was only signed and by and addressed to my husband, there was no mention of my name on the loan.

Now I am getting several phonecalls a week saying that I am also liable for the loan as it was a joint account??!!

 

Im 4 weeks away from having a baby and it's causing me so much stress!!

HSBC have been useless and can provide me with no answers- I just don't know what to do!!??

Am I really liable to pay the debt??

Any advice would be great as im desperate to know where I stand with this.

many thanks

caroline

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The loan agreement should detail the parties to the agreement, if your name is not on there and you did not sign it or go gaurantor then I don't see how they can chase you for the debt.

 

In fact, if they speak to you about it then they will probably be breaking the law as your partner should be protected by the Data Protection Act.

 

If you are sure you are not party to the loan, regardless of if it was used to pay of debts in your name, you should be in the clear.

 

I might be wrong of course, lets wait to see what others have to say.

 

In the meantime, try not to worry - it doesn't help matters and it is not good for you!

 

Good luck.

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have you spoken to the DMP ppl you are using about this? They should be able to advise you.

 

If you dont want to talk to them about it then maybe a call to your local CAB.

 

I will look up for you any info l can find but l cant promise anything.

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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try looking on here.

 

Citizens Advice corporate website - Home

 

National Debtline, for FREE CONFIDENTIAL and INDEPENDENT ADVICE call 0808 808 4000

 

I cant find any info on your specific query but l would advise you call the nation debt line if you dont want to talk to the DMP company you are using.

OFT debt collection guidance

 

Please remember the only stupid question is the one you dont ask so dont worry about asking the stupid questions.

 

Essex girl in pc world looking 4 curtains 4 her pc,the assistant says u dont need curtains 4 a computer!!Essex girl says,''HELLOOO!! i,ve got WINDOWS!!'.

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Particularly note the highlighted blue bit.

 

From: Joint and Several Liability | Payplan

 

If you have taken out a credit agreement, such as a loan or bank account in joint names (with another person) then you are both liable for the full amount of any debt.

 

NB. Credit cards are not taken in joint names, if you have two cards, then only one cardholder is considered the account holder. They will be responsible for full repayment for the debt, regardless of which card was used.

 

This means that if you have a joint loan with a spouse or partner and one of you fails to repay the debt (this often happens following divorce or separation) then the lender could still ask you for payment of the full amount (not just half).

 

The lender cannot recover the money twice but can pursue both of you, or just one of you, for all amounts still outstanding until they have obtained full payment.

 

Joint and several liability can also apply to rent arrears on joint tenancies, arrears on joint mortgages, Council Tax payments and water charges on properties that have been jointly occupied.

 

I did not sign any agreement what can I do?

 

For an agreement to be joint and several then it must be signed by all parties (except for Council Tax). If a lender says you are jointly liable for a debt and you believe this is not the case, it may be worth asking for a copy of the original agreement. If you have not signed it then you are not liable.

[SIZE=2][COLOR=SeaGreen][FONT=Verdana][URL="http://www.nationaldebtline.co.uk/"][/URL][/FONT][/COLOR][/SIZE]

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Hi Car2,

 

Even if the account was joint, if it was closed by way of being paid off by a loan then the loan is the new credit. If you were not named and did not sign the loan agreement then it is nothing to do with you. Tell them to put anything in writting and to stop calling you or you will complain to the FOS and Trading Standards. If they do write post the letter up here and we will go through it for you.

 

You mentioned HSBC, please tell me this was not a managed loan with HSBC...

 

Good luck,

 

Penfold

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