Divorce, debt and bankrupcy

[Nic421]

Hi, I am new to this site and have been going through a very nasty divorce for the last year. Things have got very bad now and my soon to be ex husband is threatening to complete an IVA.

 

The situation is my husband left in July 13, whilst I was 17 weeks pregnant. We now have a 2 year old and a 6 month old. My husband has not paid anything towards the mortgage for our house since he left in July 13 and I have been paying this in full on my own.

 

We have a joint loan (all of which is his debt but it is in joint names) with a balance of 23k outstanding. My husband has been paying the monthly payments on the loan and I felt this was reasonable as I am paying the mortgage (which is more expensive per month) but as both bills were being covered I have not asked for any help towards the mortgage or upkeep of the property).

 

My husband pays maintenance for both children, directly to me and not through the CMS, but has recently reduced this as he says he will only pay what the CMS say (a difference of £11 per month) and has also not been paying on time which is causing me financial difficultly as i have direct debits to pay the bills coming out. We have had an agreement about maintenance for the last year via solicitors but he is now not sticking to this. If i were to go via the CMS i would end up worse off as we both would need to pay the CMS fees meaning the children get less money per month.

 

To reduce legal costs I have been corresponding with my husbands solicitor directly but he is failing to give any answers about the finances and my husband will not attend mediation unless we are in the same room. I cannot do this due to the psychological abuse he has caused and doing so will not assist in repairing my mental health.

 

So the situation is he is now refusing to pay the unsecured loan and discuss the finances any further, I am paying the mortgage and he is saying he is taking out an IVA. I am very worried that this will affect the mortgage and make me and the children homeless. Can anyone help to advise me what will happen if he does not pay the loan? Will it affect my housing position? Is there anything i can do? I have spoken to the loan company and they have advised they will not discuss any financial arrangements with us unless the loan is in arrears which will create a default on our credit ratings. This seems crazy and surely they should try and help us avoid this situation especially when i am offering some payment, i cannot afford the whole monthly payment while paying the mortgage.

 

I am sorry this is very long, but I thought it best to explain the whole situation. Please help!

[Andyorch]

Welcome to CAG Nic421

 

 

I have moved your thread to the appropriate forum.

 

Regards

 

Andy

[Nic421]

Welcome to CAG Nic421

 

 

I have moved your thread to the appropriate forum.

 

Regards

 

Andy

 

Thanks Andy, which thread has it been moved to? Sorry i am new to all this and don't really understand how it works

[Andyorch]

You are already there....

[Nic421]

thank you!

[Andyorch]

Nic I have moved you again you are now in Mortgages and Secured Loans.Apologies your problem does not fit directly into a dedicated forum.

[mikeymack2002]

Hi you really need professional advice on this one because of the property and children.

 

I would suggest a trip to a professional divorce lawyer and see if you can get relief from the costs.

 

There are dangers of a SD being placed against your property if you are both on the Mortgage you could lose your home if you fail to get the correct advice.

 

As you are paying the Mortgage and supporting a child I gather you may be entitled to some help with the fees.

 

It will pay you to ask for a free sit down with a Divorce Solicitor as this may only get harder and more complicated in the long run.

 

 

With your former partner going for an IVA it could cause you even more issues as there might be equity in your home to pay off the debt. Again you may lose your home.

 

 

I don't mean to be blunt to you just saying please seek help NOW before it's too late

 

If you get this wrong or take the wrong advice you could lose everything, that will be the worse thing that could happen to you right now..

 

Seek this advise asap and then come back to update your thread when you have spoken to them please. Ask about a property adjustment order in this case you WILL NEED professional assistance.

 

 

You can read up about a property order here if you want to

http://www.adviceguide.org.uk/wales/relationships_w/relationships_relationship_problems_e/relationships_relationship_breakdown_and_housing/relationships_if_you_re_married_or_in_a_civil_partnership_-_relationship_breakdown_and_housing/relationships_if_you_re_married_or_in_a_civil_partnership_and_you_own_your_home_-_relationship_breakdown_and_housing/relationship_breakdown_and_housing___property_adjustment_orders_if_the_home_is_owned.htm

 

 

The Financial orders information is also contained in that post at the bottom of that post too

[Nic421]

Thanks you very much Mickeymack2002. I am seeing a solicitor next week so will update after that