# How much to offer to clear off a loan?



## Muddle2018 (19 Jun 2019)

Got divorced 6 years ago. In divorce all ICB reports were presented and we had a joint overdraft with a bank for 6400. We were both ordered to pay our halves of same. I straight away started paying my part off in increments, advised him when I had finished and thought he would do same. He did not. Upon engaging the bank for a transfer of my ex off my mortgage they have found that there is still 3200 owed and as my name is attached to it the bank would like it paid before the final drawdown of mortgage. My ex of course is thrilled that he is getting away with yet another outstanding bill but I do not have 3200 to pay so wondering if I rang the bank would they take a lesser amount? I am not one to shirk my bills and responsibilities but between solicitors fees and a whole pile of other stuff to get my ex off my mortgage I really am starting to be completely out of money and I am sick of forever carrying the can for him. I know on a normal basis I could ring and haggle with them and just say fine, I wont pay anything as you clearly arent getting anything out of my ex anyway but I actually need to have this bill at a zero balance to drawdown new mortgage. 

Help?!!!!


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## Palerider (19 Jun 2019)

Unfortunately your ex has stung you for this, don't expect the bank to write it down, if they did it might affect your credit rating, get in touch with the ex and outline where you are at right now and the considerable impact, hard as it may seem it is the right move.


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## Muddle2018 (19 Jun 2019)

Thanks for response. I am baffled how it has not affected my credit rating at all as this was an overdraft and fees incurred in 2006!! No talking to my ex. He wont put his hand near his pocket.


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## Purple (20 Jun 2019)

I get a clear picture that you still have major hostility and bitterness towards your ex in that you ascribe a hostile motive to his actions. You need to try to be a bit calmer about this for your own sake, emotionally if nothing else.

The first question is does he have the means to pay the debt? Again, not what you think he should have but what he does have. If he doesn't or you think there is minimal chance of getting him to fork out the cash then, in the context of getting full and unencumbered ownership of a property, maybe get a loan to pay the debt.


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## so-crates (20 Jun 2019)

Muddle2018 said:


> Thanks for response. I am baffled how it has not affected my credit rating at all as this was an overdraft and fees incurred in 2006!! No talking to my ex. He wont put his hand near his pocket.



Have you checked your credit rating recently? Just in case it is actually on there.

The amount is relatively small so you are unlikely to be able to clear it for less than the full amount and the cost to you of chasing him for it is very unlikely to be worth it. Yes he has welched on his responsibility and reneged on the court order but as Purple points out, there may well be extenuating circumstances and even if there aren't it isn't worth your while or your emotional health chasing him for it at this stage.  You are in a position to get clear title to your property, that is the goal to focus on, don't be distracted refighting old battles that you may "win" but at a severe cost. Focus forward, the direction you want to travel, you want to break ties with him, not renew them.


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## Seagull (20 Jun 2019)

Who ordered you to each pay half of the overdraft? If it was in court, your ex might just find himself in contravention of a court order, and spending time in the cells for contempt.


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## Muddle2018 (22 Jun 2019)

Sorry, not online a lot so only seeing messages now. IN reply:

Purple I hold zero bitterness towards my ex husband. I do not subscribe to the view that you need to hate someone just because a marriage ended. I was very angry with him for leaving me in such debt (tens of thousands of joint debt along with HIS credit card and car finance loan to pay off) but never bitter towards him or any of this. Frustration at forever having to bail out a man who has worked all of his life but just refuses to pay his own bills but never bitterness. He fully CAN afford the debt just like he could afford all the others, he simply walked away and left me to pay them instead. This is no different. I may have to take out a loan for it but that seems very unfair however I am waiting on the mortgage company to get back to me and see their view on it first.


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## Muddle2018 (22 Jun 2019)

so-crates It did has never shown up on any ICB report I myself have paid for but I presume a mortgage company have a better ICB checker than the one the rest of us can buy online! I honestly thought this had been done and dusted in 2013 as it is outstanding from 2006-2007! It has not affected my credit rating in any way as I am now getting this mortgage by myself and it is a whole new mortgage as opposed to just removing him from the current one costing a couple of grand in legal fees etc. I also got loans for varying things over the years and it has never been an issue. 

I understand I have to take this on, I just wondered if the bank would be more lenient given he was ordered to pay his share and I have paid mine and this really is their only chance of getting paid anything off it. I actually have no account numbers or details as nothing has never come out to my home via a statement or anything over the years - i suspect ex changed the address to appease courts and then never paid - so waiting on my mortgage company to give me the details of what they have found so I can call this bank and ask if they would take a reduced rate before I consider taking out a loan for it. 

Seagull the courts. It was an agreement we made outside the courtroom along with the agreement for the house and other bits and we both signed the order. I was the only one that went into court that day as he signed and left the building but it was an agreement made in the courthouse via solicitors and barristers.


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## Purple (26 Jun 2019)

Muddle2018 said:


> I am now getting this mortgage by myself and it is a whole new mortgage as opposed to just removing him from the current


Are you getting the same (or better) interest rate? If not then maybe the better option is removing his name from the mortgage.


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## Muddle2018 (30 Jun 2019)

There is no option. You cannot simply remove a persons name from a mortgage, it all has to be done from scratch basically again. 
They have offered me my tracker rate to keep so it is in my best interests but unfortunately where I once thought it was literally  a case of transferring a name off it really is not that simple and we have to go through conveyancing solicitor and land registry and a few other things. Costly but will be worth it.


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## Purple (1 Jul 2019)

Muddle2018 said:


> There is no option. You cannot simply remove a persons name from a mortgage, it all has to be done from scratch basically again.
> They have offered me my tracker rate to keep so it is in my best interests but unfortunately where I once thought it was literally  a case of transferring a name off it really is not that simple and we have to go through conveyancing solicitor and land registry and a few other things. Costly but will be worth it.


I was using shorthand for retaining you existing Ts & Cs and interest rate. Of course, it's a new contract so a new mortgage. If it's a good tracker rate then it's well worth it.


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