I have got monthly loan repayments and mobile phone bills that i can not afford to pay back each month. The loan is on my name and account. My wife and me have separate financial accounts.The house and the mortgage are only in my wife's name. I have made my mind to go and live abroad untraced, but my wife will stay in the UK.
Can the bank and T-Mobile take any legal action against my wife to get their money back.
2007-08-27 10:22:33 · 11 answers · asked by amer5617 2 in Business & Finance ➔ Credit
NO its got nothing to do with your wife, if you are going abroad or just going to disappear for a bit make it worthwhile before you get blacklisted hammer a few more store and credit cards, good luck
2007-08-27 10:30:21 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Curious question for somebody that can arise with the money for to surrender 40K, makes me ask your self whether you earned your wealth, or if somebody gave it to you? Giving that form of money devoid of project isn't a competent thought. You stated on your question that the son-in-regulation has or had a DUI situation, so there's a duty or duty situation right here, particularly because of the fact it affected his lifestyles form (loss of extra constructive paying interest). provide them the whole 40K (considering the fact which you could arise with the money for it), yet format an interest unfastened payback. whilst offering the loan ask them to show their debt and clarify how they plan on resolving the present credit and loan complications. you would be doing them a want by insisting they have a plan for correcting the situation and payback. Assuming they start a payback plan for the 40K, you will desire to take the known month-to-month money and make investments. as quickly as the investment suits the 40K initially loaned ask your daughter and son-in-regulation in the event that they choose the money or save the investment going. the tactic I defined will accomplish a lesson found out and grant a guard for the unseen outcomes. And, in case you and your spouse ought to probable save this a secret and not tell the youngsters what you're doing that's going to be an particularly great ask your self present a pair of years from now. You and your spouse sound like quite properly which ability human beings, in spite of the undeniable fact that basically giving the youngsters the money won't accomplish something and can help the thought that "mom and pa will provide us the money", is that the form you like the youngsters to think of? i don't think of so and that i understand you opt to assist them. The plan will help them help themselves, making the two certainly one of you good mother and father. good success and deliver my fee to any charity that helps little ones.
2016-12-16 06:25:34 · answer #2 · answered by adamek 4 · 0⤊ 0⤋
Face the debt problem head on instead of running away from it. There are organisations out there that can help you out such as the CCCS. You took out the loan so at least pay it back even if it ends up taking 40 years.
2007-08-27 10:40:35 · answer #3 · answered by honest girl! 4 · 0⤊ 0⤋
If it's an unsecured loan, it can only be enforced against you or your assets. Ever since the Married Women's Property Act of 1882, your wife is not responsible for your debts. (Or were you offering her in repayment?)
2007-08-27 10:29:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
They cannot take action agaist your wife but as you shared the same residence, she will probably find her cridit rating will suffer because of your poor credit performace and so gaining any future loans (your wife) might be a problem.
2007-08-27 10:34:04 · answer #5 · answered by nickthesurfer 4 · 0⤊ 0⤋
dont be daft, the world has shrunk considerably, no one dissapears these days...unless someone wants it to happen.
goto a money advice centre, most big cities have them, they dont charge for their services, and they will help you sort out your debt.
you run, youre screwed on so many levels, so, be a man, and put your hands up to it. you forked up, bigtime... but, everyone like to see repentance, and your debtors woudl rather recieve a pittance, than nothing...and there are rules in place which freezes the exhorbitant interest fees....
its cheaper to stay and sort it out, they will catch up with you, and you will pay em back...
2007-08-27 10:33:19 · answer #6 · answered by Anonymous · 0⤊ 0⤋
if your wife did not sign for the loan or the mobile she is not responsible to pay your debts
2007-08-27 10:34:20 · answer #7 · answered by shirley v 6 · 0⤊ 0⤋
Go see Citizens Advise .. they will help you sort out your finances (maybe with an IVA) ..
PS the Debt will eventually be sold on to large men in dark suits who will call round to your last known address with rottweilers and attempt to put pressure on anyone found there connected to you to pay ..
2007-08-27 10:48:09 · answer #8 · answered by Steve B 7 · 0⤊ 2⤋
It depends on how the law works in the UK. However, they will probably harass her anyway.
2007-08-27 10:27:29 · answer #9 · answered by Suzy 5 · 0⤊ 0⤋
get debt recovery, don't run away from your problems they will catch up with you
2007-08-27 10:32:06 · answer #10 · answered by xtina 2 · 0⤊ 0⤋