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loans and property

  • anjula
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30 Sep 08 #52568 by anjula
Topic started by anjula
My stbx moved into my home and married me 2yrs later we have now separated and his name has never been on the mortgage.. I had equity in my property when he moved in but since being together we have run up debts.. We now have a loan secured on the property of which he is the primary borrower and I am secondary therefore I am not covered on the insurance for sickness, death etc.This has pushed the property into negative equity. My stbx has informed me this week he cannot pay back his share of the loan and will have to file for bankruptcy. I would like to try and keep the loan going so I do not get my house repossessed. What I really need to know is can I be forced to sell the house when all the debt will not be paid off and how will his bankruptcy affect me will they just repossess my house if my income is not high enough. I also have a pension in just my name that I have had since the age of 18 I am now in my forties and this is in my will as being left to my mother and siblings, can my stbx make claim to this?

  • constanza
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02 Oct 08 #52926 by constanza
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Hi-
Hope you get help on legalities of your situation. Im just checking in to say you have my sympathy. My situation similar, and I deeply resent that I should be made accountable for exs financial mistakes. All I know is that your pension will be included as part of the assets pot.
Good Luck x

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02 Oct 08 #52992 by anjula
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Hi thanks I cannot believe everything you have built up on your own can be taken like this, and yes I too am feeling resentful. Is it any wonder people do not want to marry anymore there is too much at stake. I wish you the best of Luck too, if I do ever consider marriage again I will make sure all legalities are water tight, the sad thing is I know he is going to do it to the next poor unsuspecting ,rose tinted ,blinkered woman.

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