We jointly own my house, we separated nearly two yrs ago. Only morg and council tax had his name on everything else was in my name. Yet he has been able to get cards and loans.
How is this possible?
If he has got loans on my house (i really hope not) wouldnt my signature be needed?
Also if he gets made bankrupt does it affect me?
My children and i dont want to move, i,m paying mortgage myself. What shall i do?
2006-10-30 10:38:20 · 11 answers · asked by NIcole 1 in Business & Finance ➔ Credit
If your ex partner moved out of your home 2 years ago, your solicitor should have advised you to get his name removed from the property deeds and all loans secured on your home moved into your sole name.
If this hasn't happened and you're living in a house that's registered in the name of your ex, then you are at risk. You can't sell your home, re-mortgage, pay off the mortgage etc. unless your ex agrees to cooperate with you.
It's normal for the mortgage to be in the same names as the property title deeds. If you're both on the deeds, you should both be on the mortgage, although you don't need to.
There are two types of loan. Secured (mortgage) and unsecured
(credit cards, hire purchase, standard bank loan etc.)
The secured loan basically states that your home isn't your property until it's paid off. It remains the property of the mortgage provider until you've cleared the last repayment. If your ex has the original mortgage in his name & the mortgage has been paid off each month, then he can probably extend the loan amount without you knowing. If there's enough equity on your home, he could borrow tens of thousands.
If he has done this, you will need to find the extra funds or you'll be at risk. By risk, I mean possible future eviction & an auction of your home to pay the bank off. This would ruin his credit rating too.
Unsecured loans are different. He might have registered a credit card to your home address by showing a few recent bank statements with your address on. Your home is not at risk here, but your credit rating will be.
If he defaults on loan repayments, he'll get a number of black marks put against his name. This will swiftly lead to a county court judgement marked against his name & your property address. This will certainly affect your chance of future credit.
On the other hand, if you did change the mortgage over & take his name off the deeds, then he's either committed fraud, identity theft, or both. He can't use your address to obtain credit or secure a loan if it's all in your name. If he has done this, he's a very silly man & responsible for a pretty serious crime.
Whatever the situation is, you need to act now to limit your risk. Get onto the citizens advice bureau right away and speak to their finance and debt experts. You need to get your ex-partners name removed from any council tax records, electoral register, mortgage loans etc. If he has mobile phone bills, credit card statements, bank account statements or anything else coming to your address, I'd contact these people and put them straight. Any other mail should be returned to sender with a message that the name is unknown at your address.
Don't panic though - you should be able to fix this without too much hassle if you act now. Get professional advice before speaking to any mortgage lender / bank. If credit card companies hassle you, then give them his new address and tell them to remove your address from their records. It's their tough luck if the cards are not paid. If they still apply pressure, speak to a supervisor & threaten to expose them to the media for their flawed background checking procedures.
You might want to consider paying a solicitor £50 to write to your ex and scare him. Give him 14 days to unlink any personal debt from your address and settle any new secured debt taken out since your separation. Say that failure to do so will force you to proceed with legal action and criminal proceedings for fraud and financial deception. He'll see that this could lead to a criminal record, a ruined credit rating and he'll still have to repay any debt plus a load more new debt in legal costs.
If you do speak to your ex, just calmly tell him that you've be put in-touch with a legal expert and that it's in his interest to fix this financial mess. Just act in total confidence and be calm. He needs to feel that his two options are to fix all the debt linked to your home, or be dragged into a legal mess for fraud and then fix the debt linked to your home.
Good luck!
2006-10-30 12:19:05 · answer #1 · answered by Cracker 4 · 0⤊ 0⤋
One possibility no one has mentioned so for is: He may have a good credit rating in his own right.
If his name is on the deed to the house, it is not yours, it is both yours and his. Depending on the form of joint ownership, he may be able to get loans against the home without your signature. If you got full ownership of the house in the divorce, his name should have been removed from the deed. The local office that records deeds can tell you if his name is on the deed, the form of joint ownership, and if any additional liens have been filed on the home. Credit bureaus are supposed to maintain separate credit files for each of you. If he goes bankrupt, it should only affect you to the extent that jointly owned assets are affected. If the house is the only joint asset, and you are willing to assume full responsibility for all debts secured by the house, your credit should not be damaged.
It is probably worth your time and money to have an attorney review the situation and determine where you stand.
2006-10-30 11:36:09 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
Seek legal advice immediately. !!! Citizens Advice Bureau are helpful. The first time you see a Solicitor is often free of charge. Check the net, confide in someone. Don't delay.
If his name is on the mortgage still he could still be borrowing for loans because of the value of the house your living in.
I trusted by ex thinking he wouldn't do the dirty on me because of my daughter! How wrong I was.
Be strong seek legal advice. As a wife or partner with a child you have a lot of rights. I wish I had stood my ground. Good Luck
Have put a source for you to help you find help in your area.
2006-10-30 10:57:14 · answer #3 · answered by Anonymous · 0⤊ 0⤋
He jointly owns the house and is liable for the mortgage on it, so he is obviously giving your address as his own and that is how he is doing it.
What you have to do is get in touch with the Credit referencing people and advise them of the separation and that he no longer lives with you and is at another address. That way when he next applies for credit on your address, he will be stopped from getting it at your home address.
If he goes bankrupt, it does not affect your name, but it may affect the status of your home as it will also be part of his assets. In reality the house is mortgaged, so the building society/bank has first call on anything like that and it all gets messy and will involve the courts, the courts would find in your favour anyway because you have children. Go to citizens advice for further help and they will help as much as they can.
2006-10-30 10:56:32 · answer #4 · answered by Latin Techie 7 · 0⤊ 0⤋
You are in deep manure.
You and he own the house (not yours) unless you bought him out and got your own mortgage.
He has legal rights to force you to sell the house and give him 1/2 of the profits.
You need a real estate lawyer , yesterday.!!
He is getting loans against his 1/2 of the house and he does not need your signature. Get a lawyer fast. Get ready to sell the house start packing today. Find a mortgage .
Bankruptcy can force sale of his half and your half of the house since he doesn't live there.
visit Dave Ramsey.com to learn what you haven't fast.
2006-10-30 10:53:30 · answer #5 · answered by Anonymous · 0⤊ 0⤋
.He is probably using collateral from the house to get loans if it's in both your names; You need to do some checking on that.
2006-10-30 10:47:43 · answer #6 · answered by Anonymous · 1⤊ 0⤋
You need to get legal advice immediately - if your house is in joint names it isn't legally 'yours'. If he gets made bankrupt that could affect you as things stand - please take advice without delay.
The Citizens' Advice Bureau will steer you in the right direction.
2006-10-30 10:46:24 · answer #7 · answered by Anonymous · 1⤊ 0⤋
hi, your best bet is to go and see the citizens advice bureau who will answer all your questions. but as long as the debts are in his name and not against your address then it shouldnt affect you at all.
bex
2006-10-30 10:57:17 · answer #8 · answered by Anonymous · 0⤊ 0⤋
YOU COULD TRY WRITING TO EXPERIA OR THE LIKE THAT CHECK AND HOLD INFO ON YOUR DEPTS ETC IF THERE YOU COULD SWEAR AN AFFIDAVIT TO STATE HE LONGER LIVES THERE AND SO HE WONT BE ABLE TO USE THE HOUSE AS COLLATERAL
2006-10-31 00:36:56 · answer #9 · answered by Anonymous · 0⤊ 0⤋
inform all the credit companies of your circumstances and try
www.nationaldebtline.co.uk this has loads of useful advice
2006-10-30 10:49:08 · answer #10 · answered by faisix67 2 · 1⤊ 0⤋