hi, how does this work, how do i apply for it
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Helena Sell
Member
That’s great, thank you!
Just a little bit nervous about it effecting my credit score and the possibility of a house in the future etc.
But then I guess there will be no chance of a house until I’ve paid all of this debt off!
JoeBloggs
VIP Member
As a married couple you are jointly connected and therefore liable. They may not be forced to sell but it could have a charge placed which mean if they do they will lose the cash.
Things don’t move that fast as there are processes but the repossession of goods doesn’t drum up much cash.
I think you need to step away, this isn’t your problem nor your mess to sort. Be there for them but sadly adults have to learn lessons and this will be a very big on. They have an advisor and they need to listen to them.
yogiessexdubs
VIP Member
I've contacted Step Change for some assistance. Has anyone had any experience with debts been written off or reduced? thanks ..
Yes I was thinking that no one would accept him for an IVA given that amount of debt. He’ll never be able to pay it back. I’m so worried she’s going to lose her house but she keeps telling me she’s just a year to buy him out before they can force her to move…. I’m not sure that’s right and how she can be so certain!
JoeBloggs
VIP Member
Do you think he forged her signature or perhaps got her to sign something without telling her what it is? I guess you trust your husband so don’t take much notice. I know I got my husband to sign the mortgage renewal and he wasn’t interested in what it was.That’s interesting @Fintonagirl - I wonder if she is actually on the deeds. I did wonder how anyone could sign a guarantee against a house that someone else lives in without their consent. She said she didn’t ever sign any personal guarantees (and seemed to think it was more £400k not £600k - not that that’s any better) so who knows.
i might try and call CAB anyway just so I can understand the process more with the information I know - if they can help me. I’m dreaming about her having her house repossessed! Every debt chat room I have visited talks about debts in the thousands but not so much in the hundreds of thousands!
Thanks for your reply @JoeBloggs
i can’t quite fathom the amount of money there is. £650k of this I know is on PG. it’s about the same value of their house and their mortgage is £427 so they have roughly around £100k equity each. Do you think they’ll be made to sell the house even though the debt is in his name? (Joint House and mortgage).
I think ultimately, you have hit the nail on the head. Neither of them are prepared to listen. I was contemplating calling a debt line to see if i can get some advise on their behalf but not sure they’ll even discuss it with me- or if my sister would even listen. I don’t think they get the level of debt they’re in. Im wondering if they will get stuff removed from their house and how quick it will happen. They’ve just had a CCJ listed against their business. I’m honestly having nightmares about it.
i can’t quite fathom the amount of money there is. £650k of this I know is on PG. it’s about the same value of their house and their mortgage is £427 so they have roughly around £100k equity each. Do you think they’ll be made to sell the house even though the debt is in his name? (Joint House and mortgage).
I think ultimately, you have hit the nail on the head. Neither of them are prepared to listen. I was contemplating calling a debt line to see if i can get some advise on their behalf but not sure they’ll even discuss it with me- or if my sister would even listen. I don’t think they get the level of debt they’re in. Im wondering if they will get stuff removed from their house and how quick it will happen. They’ve just had a CCJ listed against their business. I’m honestly having nightmares about it.