My ex-partner died, I'm scared of debt

[Alison356]

Hi,

 

My ex-partner recently died

 

a few years ago while I was with him he took out a 2nd mortgage loan on his house to clear his debts but I signed too

 

- the loan people said I needed to sign because I lived there.

 

The house was not in both our names

- it was his house and the loan was secured on his property.

 

He said it would not affect me, they just needed to know who was living there.

 

We split up nearly five years ago. I don't know where I stand with this.

 

He had not been paying it,

his mother says she has found a lot of horrible letters regarding this with my name on them too.

I'm afraid I may be in a serious amount of debt.

 

Any thoughts or advice you could offer would be appreciated very much.

Ali.

[caro]

I know that when my OH and I remortgaged we had to get our adult children to sign to say that if we were repossessed they wouldn't expect to stay there.

 

I imagine the sale of the house would cover at least some of the debt, but unless you have paid anything or acknowledged any debts in the last 6 years they'd be hard pressed to make you pay anything.

 

If any of the creditors try to contact you by phone tell them you need it in writing and put the phone down.

 

I think you may be worrying unnecessarily, but it might be worth asking his mother if you can see the letters so you know what you're dealing with.

[Alison356]

Thank you caro.

 

I will be seeing the letters soon,

 

his mum will be giving them to me to go through.

 

I have never paid any of it,

 

he had always said that it wouldn't affect me

 

so I have never given it much thought until now.

 

The loan was taken out around 2007 and I left in 2009.

 

Thank you again

[caro]

Have you had any problems yourself getting credit? See what the letters say when you see them and if you're concerned then you could check your credit file to see if there's anything on there that you need to be aware of.

[dx100uk]

might be an idea to check your CRA file

 

see below

 

dx

[diddled]

Who is the 2nd charge lender?

I came across a very similar issue a couple of years ago. Friend and her son signed up for a joint secured laon with GE Money, but friend was sole owner of the property. Try as we might we just couldnt get any answers.

[Alison356]

Thanks everyone. This debt is on my credit report I have checked. It is a secured loan with First Plus, my ex-partner owns/owned the property. I am in the process of seeking further advice.

[dx100uk]

what is the listed defaulted date and the outstanding balance please

 

dx

[Alison356]

Currently the outstanding default balance is £22,725, current balance £19,645. Defaulted on 5/3/2009.

[Alison356]

Its down as a second mortgage beginning in 2005

[dx100uk]

ouch!!

 

you don't need that

[Alison356]

I know, I've never even had a first mortgage let alone jumped up to having a second one I didn't really want.

[bhall]

Hi Alison

 

Firstly whilst it is your ex-partner, I would still like to say I am sorry to hear of your loss.

 

Do you have any idea of the value of the property and the amount still owed to the mortgage lender (first charge).

 

The executor of the estate of your ex partner will sell the property and any money left over after the mortgage has been paid will be used to repay, depending upon the amount this 2nd charge loan either in part or in full

 

I think you need to establish if the value of the property is sufficient to repay the debt first and then if it isn't, we can consider arguments about what you can do next.

Edited April 22, 2013 by bhall

[Alison356]

The citizens advice bureau say that because it is a secured loan as a second mortgage on his house, the debt will be paid through the selling of the house, the executor of the will will need to sort that. although if there is any debt left after I may have a bit of a problem, for now I feel relieved. There is hope.

 

Thank you dx and everybody for all of your thoughts and help.

 

[Alison356]

bhall I just found your message, thank you too I don't know many of the details of the first mortgage, that was before I met him.

 

I feel sad that he has gone because he was also a close friend.

 

The property I think was valued about £65,000 and he brought it through 1st mortgage of £35,000.

Edited April 22, 2013 by Alison356
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