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Divorced partner chased for finance payment for double glazing on former home after ex-wife goes bankrupt...
My partner when married took out a credit agreement with First National for double glazing. When they divorced he took all the debts apart from this finance agreement which she verbally agreed to continue paying. His name could not be removed apparently. Some 4 years later he received a letter from Link Financial on behalf of Asset Link Capital stating that the debt has been assigned to them and demanding payment of the full balance immediately (no reference on the letter to the amount). He then contacted his ex-wife who admitted that she has not paid the direct debit since January and in April of this year went bankrupt, she also said she has no paperwork! He has since contacted Asset Link and requested that the account be frozen together with the contract and statements. We have since contacted the Official Receiver who says half of the debt is her liability. Can you please advise what he now needs to do, what is his liability and how does he obtain all the documentation? I have heard that Asset Link are not easy to deal with and the interest that is added will be astronomical.
Unfortunately the legal position is that your partner will remain liable for the debt. You are right to fear interest mounting up.
Before you reach any agreement to pay you should have the validity of the loan checked. Many of these types of loans are unenforceable.
Go to http://www.loancheck.co.uk
They will tell you if the loan is enforceable and if the interest has been correctly calculated. Loancheck will obtain all of the paperwork and I believe all of their services are free - but do check.
If Loancheck cannot help then the next port of call should be a specialist debt adviser. The Citizens Advice Bureau would be your best bet. They have excellent debt advice services.
You also can and should lodge a claim with the Official Receiver for 50% of the amount outstanding.
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