Hi There
I hope somebody can give me some advice.
I moved out of the home in 2011, I have a joint mortgage. I have two children and they live with me, have been renting ever since I moved out, my ex partner stayed on in the house. Ex partner is in public sector with good salary, but has opted not to pay for over two years and never fully met the mortgage repayments. The house is subsequently entered into legal proceedings, going to court for the 3rd time in October. I have just been contacted by Cork Insolvency to say they need my co-operation, as the ex partner is applying for Personal Insolvency Agreement. The mail that I received states that the consent they require is to have my name removed from the Deeds of the Property and liability regarding same also removed. They are stating the benefit to me is that I will no longer be liable for the debt or any negative equity attached thereto, and that my liability to the Mortage Provider will be finished. My question, is this something I must run to give my consent to? I feel that this is hugely beneficial to my ex partner, and that I have contributed to the mortgage repayments for 4 years, and now being told to sign documents, when this all could have been prevented, as he is in a well paid job (double what I earn), he just opted to not pay, and take the easier route out by now going for a huge write off and restructured mortgage etc. I am aware the house is in negative equity, but ex will no doubt get a write off, and pay less than what I pay for rent, and own the property outright.
Any advice/comments - much appreciated.
I hope somebody can give me some advice.
I moved out of the home in 2011, I have a joint mortgage. I have two children and they live with me, have been renting ever since I moved out, my ex partner stayed on in the house. Ex partner is in public sector with good salary, but has opted not to pay for over two years and never fully met the mortgage repayments. The house is subsequently entered into legal proceedings, going to court for the 3rd time in October. I have just been contacted by Cork Insolvency to say they need my co-operation, as the ex partner is applying for Personal Insolvency Agreement. The mail that I received states that the consent they require is to have my name removed from the Deeds of the Property and liability regarding same also removed. They are stating the benefit to me is that I will no longer be liable for the debt or any negative equity attached thereto, and that my liability to the Mortage Provider will be finished. My question, is this something I must run to give my consent to? I feel that this is hugely beneficial to my ex partner, and that I have contributed to the mortgage repayments for 4 years, and now being told to sign documents, when this all could have been prevented, as he is in a well paid job (double what I earn), he just opted to not pay, and take the easier route out by now going for a huge write off and restructured mortgage etc. I am aware the house is in negative equity, but ex will no doubt get a write off, and pay less than what I pay for rent, and own the property outright.
Any advice/comments - much appreciated.