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Hi all, I brought a house in 2003 with an ex partner. In 2005 a seperation agreement was drawn up stating that he would endevour to procure my liability from the existing mortgage. If however he couldnt do this I would still be liable but he agreed to indemnify me in respect of the same.

 

I have now found out, literally and have not been told by him that he has filed for bancruptcy in April 2009. I have no idea whether he is still living at this property. I have the mortgage company chasing me for the monies owed, they cannot contact him at all. I now know why. There is also 2 joint loans on the property which he agreed to endeavour me of them and again agreed to indemnify me in respect of the same.

 

I cannot contact this guy, have no idea where he is. I have simply found an entry in a newspaper stating that he is bancrupt.

 

Can someone please tell me where I stand with this? I am now married and have a baby and am terrified that I am going to be liable.

 

Thanks for your help.

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I think it will depend what your seperation agreement states, however I would seek some professional advice as to where you stand.

 

Also if he has already been declared bankrupt you could try contacting his Official Receiver and ask them where you stand.

 

Try not to worry, L xx

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As louise says it all depends on the seperation agreement. The OR is unlikly to be able to help as they are not an advice service and as you are not the one bankrupt would not be in a good legal position if he advice they gave was wrong. You need to see an adbice service lke the CAB or preferably a solicitor

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If you go to a solicitor you can get the first half hour free for advice, some even give you an hour. If you go to CAB ask to make an appointment to see their legal team, they are not at every CAB office but they will tell you where the nearest on to you is.

 

DG


I have no legal training my knowledge comes from my personal life experiences

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Right, thanks Guys. This is what it says in the agreement, word for word :

 

T will transfer to G absolutely all her legal and beneficial interest in the freehold property situated at xxxxxxx subject to the present mortgage in favour of Mortgage Agency Services Number 4 Limited in respect of which G agrees to indemnify T and secured Loans in favour of Endeavor Personal Finance & Welcome Financial Services.

 

G & T agree that G will use his best endeavors to procure T's release from her liability under the existing mortgage secured on the property. In the event however that G is unable to secure T's release at the present time, T will remain Liable under the mortgage secured on the property and G agrees to indemnify her in respect of the same. In the event that T is not released from her liability under the existing mortgage G agrees if so requested by T to reapply to the lender for her release on a periodic basis.

 

G agrees and accepts full responsibility and liability for the joint loan in favour of endeavor personal finance secured upon the property and agrees and undertakes to pay the monthly payment on time as it falls due.

 

Now I have asked him several times to do this, I have even spoken to the mortgage company who have told me that they need to speak to him about it. He has done nothing. It feels to me that because I have moved on he is 'getting his own back' and now I am petrified that I am going to be liable for this debt. He is bancrupt allready so he has no worries, his debts get written off. But what happens with me? Do they start chasing me? He has no idea where I live, nor do the creditors but I dont think it would be hard to find me. I do however have his current address. I have the mortgage company ringing me every week asking me for money, to date they have no idea that he is bancrupt. Yet he was declared bancrupt in April 2009, surely the OR would have contacted them and told them the situation??? Should I have been informed that he was making himself bancrupt?

 

Also what happens with my credit record? He has wrecked it. He has made no payments on the mortgage since April, no payments on the loan since January. My name is still on both. I am seriously petrified.

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