Our house was reposessed 3 years ago now and I have just been contacted by a solicitor at work. I have not yet recieved the letter from them but was wondering if they would split the shortfall (if any) 50/50 as we have split up and I have no contact with him, don't even know where he is. I have 2 small children and i only work part time will they make me pay this money back?

-- Tracy Shirley (tracyshirley@blueyonder.co.uk), April 08, 2003

Answers

Tracy,

Joint borrowers are joint and severally liable- either can be sued for the full amount, so I really hope you have no shortfall if you are a joint borrower. Some building societies say they split it 50/50 but there is no legal obligation for them to do so, unfortunately. Keep written records/recordings of any phone calls just in case, also keep any letters and envelopes. If there is a debt be sure to deny liability in any communication and always state that you dispute it. If the worse comes to the worse and you can't afford to make an offer of settlement you could consider insolvency, discharge will be quicker under the new rules coming in. Good Luck.

Mark.

-- M Amos (idgroms@hotmail.com), April 09, 2003.

Tracy

Sorry to put a downer on things but Mark is right, join & several means just that. It is extremely unfair if you have divorced, for example any will becomes void, so why does this continue?

I am in the same position as you, divorced when the house was repossessed, and I am currently being sue by Lloyds/TSB for £30k (the whole amount) from a repossession over 7 years ago. I am a single parent too.

I think the whole thing is totally contrary to the Government's policy on getting single parents back to work. As soon as you do you get landed with a large bill!

Read what Mark says carefully plus this site. DO NOT ADMIT anthing. SARN the lender/solicitor and anyone else for all the info and then check back on this site to see what to do next. You are best to negotiate a settlement if possible and go back on benefits if possble. I know it is against what everyone including the government says but there is not much else you can do.

Also write to your MP, Harriet Harman and anyone else you can think of to raise awareness.

Allye

-- Allye (migclaim@hotmail.com), April 12, 2003.