Case study Separated and ill; lender pursuing me but not him; UB refused to allow sale

[jenny]

Hi, I have posted here before over the past few years & I was wondering if I could get some more advise.

Basically last year myself & my husband seperated, a lot of it was due to the pressure we were under it was the worst time of my life, in short I went on to need over 6 months off work due to stress & anxiety. I movedd from the family home, I couldn't stay there anymore & my husband moved to his parents.


I wanted to rent out our old house but the gas & esb had been disconnected & I couldn't afford to reconnect it & didn't want or need the stress of having it sorted when I wasn't well myself, we had a bank loan in joint names that I was trying to pay something toward, I got on with things and eventually got back to work.


Unfortunately after a few months got another illness & am still on Certs as we speak, my husband & I are hoping to reconcile we have found each other again after a lot of the stress had been removed.. We did out the house on the market & received an offer off the local county council which ulster bank refused & wouldn't release the deeds.


As it stands we will never live their again, aside from anything it would be the end of any hope we have and I won't do it.


The problem I'm having is that the bank loan I had have wrote to me today to say they are bringing me to court & I don't know what to do, they haven't wrote to husband & aren't after him over it, they closed my bank account with them a few months ago but he still has his & is in good standing with them. I don't want to say that we aren't together as this isn't nessecsrily true & I am worried if this is recorded that if ulster bank take us to court they will say we have to move back. I don't know what the best thing is to do. I wanted to make myself bankrupt but can't as its not in yet.


I'm finished on half pay in work in may & I'm not intending on going back as it was costing me more between childcare than it is staying home. I have to fill in a court form on financial statement & don't know what to do


I am so worried I can't even explain & I'm panicking here. Sorry for any spelling errors I am using phone.


Thanks

 

[Brendan Burgess]

Hi Jenny

Don't panic.

Post with the full infomation so you can get proper advice. Here is the information we need. http://www.askaboutmoney.com/showthread.php?t=170704

The main thing is the mortgage. How much did the Council offer? How much is outstanding on the mortgage?

The bank loan you are going to court over? Is that the mortgage or some other loan? Which lender is it, if it's not the mortgage?

 

[Gerry Canning]

Hi, I have posted here before over the past few years & I was wondering if I could get some more advise.

Basically last year myself & my husband seperated, a lot of it was due to the pressure we were under it was the worst time of my life, in short I went on to need over 6 months off work due to stress & anxiety. I movedd from the family home, I couldn't stay there anymore & my husband moved to his parents.


I wanted to rent out our old house but the gas & esb had been disconnected & I couldn't afford to reconnect it & didn't want or need the stress of having it sorted when I wasn't well myself, we had a bank loan in joint names that I was trying to pay something toward, I got on with things and eventually got back to work.


Unfortunately after a few months got another illness & am still on Certs as we speak, my husband & I are hoping to reconcile we have found each other again after a lot of the stress had been removed.. We did out the house on the market & received an offer off the local county council which ulster bank refused & wouldn't release the deeds.


As it stands we will never live their again, aside from anything it would be the end of any hope we have and I won't do it.


The problem I'm having is that the bank loan I had have wrote to me today to say they are bringing me to court & I don't know what to do, they haven't wrote to husband & aren't after him over it, they closed my bank account with them a few months ago but he still has his & is in good standing with them. I don't want to say that we aren't together as this isn't nessecsrily true & I am worried if this is recorded that if ulster bank take us to court they will say we have to move back. I don't know what the best thing is to do. I wanted to make myself bankrupt but can't as its not in yet.


I'm finished on half pay in work in may & I'm not intending on going back as it was costing me more between childcare than it is staying home. I have to fill in a court form on financial statement & don't know what to do


I am so worried I can't even explain & I'm panicking here. Sorry for any spelling errors I am using phone.


Thanks

1. You don,t have to move back , but the fair question to ask is , Are you paying rent when you have another house ? If so then the answer that you don,t want to move back is weak.
2. Seems strange Bank only after you ,? Is husband not signed on the loan/mortgage?
3.The Court financial statement IS important. This is what the Judge will use to decide how much you should pay each month. If you have made a fair assessment , judges are normally fair people. If you don,t like the Judges response ask YOURSELF are you being fair?
4. I am curious as to why the bank didn,t take the offer? Was the offer far too low ?? or what ?
5. Glad to hear you are back together and THAT IS YOUR BUSINESS .

And good luck.

 

[jenny]

Personal and income details
Income self: employed currently on half pay 1100e pm and will finish pay in May
Income partner/spouse: 400e per week
Income history:
number of children 3 children
Amount of Mortgage Interest Supplement received -
Home loan 260,000
Lender: Ulster bank
Amount outstanding: 257000
Value of home: 110,000
Interest rate: specify whether tracker or SVR or fixed rate - Tracker
Monthly repayment - currently 0
Amount in arrears 14,000

Summary of discussions and agreements with the bank - In MARP, spoke to them today and someone is calling me back



Other loans and creditors - Bank of Ireland - 22k
Credit Union - 15k shares of 2k - repaying 20pw

Other savings and investments - 0


How important is retaining the family home to you? Not important at all, I want rid of it.
Which of the following best describes your situation?

I don't care about keeping the family home.


Any other relevant information
The bank loan is with BOI, I have no clue why they are not after husband, It is definitely in both names, the letter today came in mine only and my address was completely incorrect.

What is your preferred realistic outcome?
come to a realistic figure with BOI, sell the house or even better bankruptcy.

Council offered 100k, auctioneer valued at 110k, bank refused due to not getting enough and us being unable to prove that we had means to repay the shortfall, even thought they didn't ask for us to fill in any forms, just refused over the phone when we told them about the offer.

I understand people saying it is weak not wanting to move back to the old house, considering I am paying rent now, but the house is unsuitable for many reasons, we constantly fought there and were extremely unhappy, we are a family of 5 and the house is tiny, no bigger than a apt and it has 2 rooms, the area is unsuitable too.