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Secured loan on property (1 viewing) (1) Guests
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TOPIC: Secured loan on property
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Secured loan on property 5 Months ago
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Hi my boyfriend's wife commited adultry and left the marital home (before I met him) with their two children. She ran up a large amount of debt during the marriage one being a loan (in their joint names) secured on the property. Another was a credit card debt ran up in a credit card n my boyfriend's name which she has fraudulenty obatined. He is therefore paying off the credit card against his wishes in order not be credit blacklisted. The other thing he is paying off the mortgage plus the whole amount of the joint loan each month along with maintenance to his wife. The house is going up for sale but unfortunately here will not be enough equity in the property to pay off the secured loan (she enjoyed spending loan in excess of £45,000.00). There will therefoe be £10k left to pay which she has said they will have to split. As the loan is in joint names but he has been paying alone and has bank statements as prove can he claim for what he has paid that she hasn't i.e. is there a way that she can be liable for the outstanding debt. It was her debt anyway but he agreed to the loan. Also she is living with and is pregnant with an other guy. She is saying that she isn't receiving anything from him as he is bankrupt and also she is saying she is going to have to go bankrupt.
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Re:Secured loan on property 5 Months ago
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your boyfriend should not be paying maintenance to his x as she is living with someone else now, he will however still need to pay child maintenance. as regards the CC and loan, you didnt mention the balance due on each of these when she left the MH as it is this amount that the court will take, your boyfriend needs proof that she obtained the CC fraudulently as this will help him in court obtain a better settlement. the only problem is that as she has no money and obviously doesnt work it will be difficult to arrange for her to take this on. Hope this helps kind regards dawn
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