Loans - House repossession threat -Help please?

[GRAZEL]

I wonder if some kind soul could help me here?

 

My partner and I recently got into arrears and they took us to County Court to try to re possess the house. ( If we could not come to some arrangement with the arrears). The loan was in both our names. I could not attend as I had to look after our newborn. The house already has a charge on it from a national bank, something the lender know about. (although if after the other bank took their charge part there would be nothing left for them).

 

The judge threw it out saying it was in the wrong court ( I presume he meant it should have been in the Magistrates)? He also commented that they were wasting everyone's time as there was already a charge on the house. My partner did agree a repayment plan with the lenders representative at the hearing subsequently. The judge had been damning about the lender bringing this action to the court.

 

Although my name and signature are on the loan agreement with interest rates etc. the house is not in my name only in my partner's. Would I be correct in assuming I can get my name taken off the loan ( unregulated Credit Agreement ) as it was based on the house? I am currently unemployed at present.

 

Any comments would be greatly appreciated.

[sequenci]

Is it a secured loan? how much was the original loan amount?

 

thanks

[bennyowen]

Did you join your partner in signing the loan agreement? If yes, then it is a joint liability for payment. On default, both of you are equally liable and you cannot remove your own name until the full loan is paid.

 

If the loan is not secured on the property, they cannot have a charge on your partner's home.

 

Ask more questions if you are in any doubt about anything.

[GRAZEL]

Thanks for the replies, yes it was secured on the property. Thanks again.

[sequenci]

i'm really confused. the correct cort or this kind of action is the county court?!?!

 

this is bewildering.