Elderbridge limited secured loan

[Lisa67]

Hi. In 2005, my now ex husband took out a £75,000 loan with First plus, now Elderbridge. I signed the paperwork as well, but found out in 2014 four years after our divorce that the loan was for £61,000. At a later date, last year, had very dull copies of original paperwork sent to me which I can hardly read, saying the original amount was £75,000! But this is not clear. When he left Christmas 2008, he verbally agreed to pay the loan if I paid the mortgage. He got me to sign some papers which I found out too late, were the endowment policy we took out in 1987, and joint bank account as well. So he cashed in our policy of £20,000 & took all the money from our joint account. Anyway, I continued to make payments to the loan company, but very reduced ones as I had three children & a mortgage to pay as well as all other bills,etc. I worked 72 hour weeks for two & a half years for the emergency services (11 years service now) then met my now partner. We continued to make payments monthly, gradually raising the amount when we could afford to do so. Over the years, I have had an offer of £18,500 to close the account from first plus before they sold it on. I obviously didn't have that kind of money. Since, I have made a similar offer, which was being considered, but as my ex husband is still on the mortgage, they needed his consent & I just know he will only help if he stands to gain something from it. So it was cancelled by me. He was ordered by a judge in court years ago to remove himself from the mortgage but he didn't complete the order so everything now still has to have his approval, even though he left over nine years ago! It took five years of being chased by the CSA for me to gain any money for our three sons! Now, I have been told the arrears are over £40,000, plus interest makes almost £81,000! I have had all sorts of threats, tried mortgage rescue a few years ago but by the time the council got their arse into gear, my youngest son was no longer a minor so that didn't complete. My household bills, mortgage & council tax are not in arrears, and there is now about £90,000 positive equity in my house which I fear is why they want to repossess my home. I went to court just over two weeks ago and was told I now need to pay at least between £500-£700 per month to save my house. My mum is even selling hers to offer me a lump sum to pay them off. We have offered £25,000 lump sum plus £600 per month for a year, and to date I have paid back £49,750. The total amount we would pay would be £81,350. They have written back saying they may consider but I would need to make £600 monthly payments for nine years to pay this back, along with £25,000. I don't want to lose my home, I've worked hard to pay this off, my ex husband is jointly liable for this debt but he will not pay anything and, apparently, if he does, then he is still entitled to half the house when I do actually end up selling! The judge has adjourned my case until March 8th, but I need to make a application for enforcement to remove him, even though he was meant to do that back in 2010. I am at my wits end & need some advice please. Thank you.