Redriver

Hi

Please can someone give me some qualified advice about UK dept.
I have been living in New Zealand for 3 years now and I now have my residence.
I was married for 10 years before divorcing in the UK.
My ex wife had a really bad habit of applying for and getting loans/credit cards.
I have just found that £15,000 is outstanding on a UK loan she took out without me knowing before I left the UK.
Unfortunately I am jointly liable for this loan and now she has stopped paying the payments and the loan company can't locate her.

My question is can they still demand the money from me and make me pay it now I am living over here in New Zealand.

Littletoe

I don't understand how you can be jointly responsible without knowing it. Surely you would have to sign something to consent to this?? Or did she forge your signature.

Credit agencies will put a 'trace' on you and will put some effort into locating you, but obviously they don't have the time to search all over the globe. Was the loan secured on a house? This will screw your credit up for good in the UK, but it won't effect you over here. If you ever do return, your'll have to pay the debt, including interest and struggle for some time to gain credit in the UK again. They will send out horrible letters, then they will hire a credit agency to take over. Who will send three letters then arrive at the address given.

Once again, how did you become responsible for this without your knowledge? Also, was it secured? You need to find out about the loan, see what terms and conditions they have imposed, you should also contact the Citizens Advice Bureau in the UK and see if they can offer some advice. I wouldn't introduce yourself to the loan company until you have all the info at your fingertips.

Redriver

Hi

I knew about the loan but instead of me asking for my share of the house when separated she agreed to pay my share of the loan off.
She has now sold the house which was placed in her name only and now left me with the £15,000 dept
We spent most of the loan improving the house :curse:

Littletoe

I could only offer my knowledge from dealing with loan companies, and my husband is a financial advisor (but investments and trading, etc). So combined, Im afraid we can't offer any other advice, because you really need to speak to a lawyer, or as I suggested someone from the CAB. I'm afraid that when you made this agreement with the loan, a contract should you have been drawn up to protect you from this. Is there anyway you can communicate with her or her family? She will also create bad debt for herself, and if she is caught out, she'll lose whatever she thought she made in legal costs, interests, etc.

What a terrible situation to find yourself in. You could find out if its possible to take a lawsuit out against her, but again this is something you need to speak to a lawyer about. You may be wondering if you can bury your head in the sand, which of course is your decision entirely and not something I would suggest or really condone, but I don't think you can worry about interpol turning up on your door.

Get all the info you can, and make anonymous enquries with the loan company, get your hands on some paperwork. You need to be armed with all the information you can get.

Good luck! Sorry I can't tell you anything else!

Nisey

Bugger !!

I assume you have nothing in writing confirming the agreement for her to settle the loan in leui of a settlement on the divorce. How did you find out about it?

There arn't any reciprocal agreements between the UK and NZ for debt recovery like there are in Europe, so it depends if you have left a trail of where you are located (or she might tell them, if she's up to her neck in it)
They could sell the debt to a NZ company and then they would come after you for recovery.

It all depends whether you are traceable and I mean did you leave forwarding addresses with any credit/loan or even the tax office when you left, or if you ever want to return to the UK.

If they find you, you could plead insanity, offer to pay a small amount each month or apply for bankrupcy in the UK via an agent. Or they could just decide not to pursue you and pursue her instead as she's more accessible


Denise

ezzkazz

How did you find out that there was £15000 outstanding, who told you?

soulflour

How long has it been since the loan company sent you any communication? There is a UK law that they cannot 'find' you after six years has passed from the date of their last communication with you, so if it's more than six years then you can relax anyway.

It does sound like you're still liable for it though, i'm afraid. I guess a lesson learnt is to never never take someone's word for something like that - sad

what a horrible situation.

I recommend www.moneysavingexpert.co.uk for more info - go to the discussion boards and check out the 'debt free wanna bes' area and the 'loans' area. They're all really helpful and will be able to give you better advice.

good luck

SF