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Scottish Trust Deed Forum
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Topic starter
04/08/2010 6:24 pm
Hi mark the job my husband was expectin has fell through and \I am truly back to sqare one. My total debts are just under 14000 and i just found out a loan which is in my name but my husband signed as garanter does this mean he is liable for this debt?? he had debts of around 18000 which between his redundancy money and his father has paid off and i was going to try and get a TD or Debt Management agrement for my bills is this possible i bring in 1100 a month morgage is 426 and housebills come to around 300
05/08/2010 8:24 am
Hi Lori51
if your husband signed as guarantor, then the creditor can (will) pursue him also for the full debt.
The above may affect your own decision as it may be pointless entering into something, only for the creditor to pursue your husband.
Your own options depend on your realistic surplus taking account of all household income and expenditure as ?ú1100 income and ?ú726 expenses, with ?ú426 of that on mortgage payments looks sparse with ?ú300 for everything else.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
05/08/2010 11:47 am
So therefore this has to be joint then I take it ?? looking like the LILA sequestration my only hope now therfore my hous ewill go to then is that correct
05/08/2010 12:19 pm
Hi Lori51
It would need to be 2 Trust Deeds I'm afraid.
Squestration does not automatically mean the sale of the house. Do you have any idea how much equity is in the house (if any)
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Topic starter
05/08/2010 12:46 pm
But he has not debt other than the joint which is less than 8000 and he has no job at present - my morgage is around 56000 and valued at 87000 on last valuation
05/08/2010 6:27 pm
Hi Lori
It's a tough one because of the joint debt.
I wonder if a DAS scheme might be an option. This at least would stop interest and legal action.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
