My Partner's Debts

Re: My Parner's Debts

I would seek professional legal advise tomorrow morning if I was you.
 
Re: My Parner's Debts

I intend doing so, as my partners latest suggestion is for us to get married, so he can sign the house over to me. How romantic!
 
Re: My Parner's Debts

God help him, he's not winning in the romance or smarts stakes.
 
Re: My Parner's Debts

God help him, he's not winning in the romance or smarts stakes.

Dont feel sorry for him! Feel sorry for me. I'm the eejit who still loves him despite the position he's got us in. I'm just trying to do some damage limitation if at all possible, but I certainly won't be rushing down the aisle anytime soon!
 
Re: My Parner's Debts

What is total loan outstanding?

What is monthly repayment?

How long do they have to repay it?

How are they financing repayment up to now?

Exactly who's name is loan in- Have brothers got a joint parnership loan?

What his his brother attitude to repaying the loan?

Could company afford to repay loan monthly till property market picks up?

If they have to realise a sale on barns and property they renovated- how much would this raise and what would be the shortfall?

Would you have any idea say would bank accept say 75% of debt repaid?
 
You should ask your OH what was used as collateral for the loan....it may be the house was used for collateral.Joint tenancy means you both own the house together so I don`t know if the bank would be able to accept the house as collateral without your permission.....are you sure you didn`t sign anything?You should see a solicitor....he could write to the bank clarifying if the house is in "play".
I wouldn`t get married ..yet if I were you....there might be some legal issue with it.
I also think your OH by himself, even just for his interest in the house , can`t use a joint property as collateral ....consult a solicitor about that.