Debt Questions forum. General questions on debt issues.

Moderators: TalbotWoods, JaneClack

By tgirl39
#3514 :( I would like some advice. My husband and I have split up and I am in the marital home.He has accumulated so much debt, that one of the creditors has applied for a charging order on the property.My objection was declined and now there is a restriction order on the property as well as a chrging order absolute.I live in the house with our 3 children and now I am at the mercy of the creditors who have a stake in my house. Do I have any options of how I can get out of this problem? :shock:
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By JaneClack
#3523 Not unless you are willing to repay the creditor all the money plus interest your ex owed.

However they cannot force you to sell the house unless there is an agreement for him to repay a certain amount per month.
So you do not lose the roof over your head.

A charging order is on the property though and not the person so when you do sell the house this will be redeemed like a second mortgage and then technically the asset would be divided. It might be in your interest to get some legal agreement drawn up with your ex which takes the charging order from his part of the property so he ends up with less at the end of the day.