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T Perrin C
T Perrin C, Consultant: information en droit du travail
Category: French Law
Satisfied Customers: 1412
Experience:  8 years as a Senior judge at Paris Conseil de Prud'hommes (Paris Industrial Tribunal)
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Credit company debt.

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Hello, I am English have been resident in France since 2006. I was married to a French woman and divorced in september 2010. I took early retirement in the UK in 2005 and I receive a public sector pension. My ex wife is a teacher. In 2008 she took out a substantial loan to repay me what I had '' given '' to her to pay her outstanding tax and credit debts. I co-signed being told it was normal. She continued to accrue new credit debts which I also paid, some only a few months before the divorce. From the divorce she received a substantial sum and she should have been able to manage financially even with the payments for the 2008 credit. What happened was that after the divorce she accrued even more debt ( incuding additional aid from me ) with several companies resulting in not being able to repay them. The Banque de France took over the matter in january. This was the second time for her ). They produced a Schedule of repayments for 15 months up to when she retires. This has been contested by the company for the 2008 loan and I am due in court next month for the hearing.

I will receive my UK state pension in 2017. I retained the house after the divorce. There remains approximately 32000 euros on the mortgage which runs to 2021 and with the market falling ,around 46000 euros maximum of equity.

I could not make the loan repayments and have sufficient to live.

I have no credit other than the mortgage and I have a small amount of savings/reserve for the unexpected.

I am aware I have been too trusting in human nature that this situation would not arise. Health wise I am under surveilance for non hodgkins lymphona and had surgery this january.

My question is what could be the possible outcomes at the court hearing ? Looking at the issue objectively, as my name is XXXXX XXXXX document, despite my ex wife assuring me she would continue to make the repayments I can see that the credit company could demand I sell my house to repay them. I am waiting for some initial advice from my Notaire, but I'm sure my best option is to seek an English speaking avocat although my french is not too bad.

Thank you in advance for your response.

I am afraid the most likely outcome, based on the situation described, is that your assets may be seized to make good for the debt on which you will be considered a co-debtor. You need to consult a lawyer ASAP who may be able to find a way out. But he/she will have to examine all documents relating to your divorce arrangements and the loans co-contracted with your ex-wife, during the marriage, and after...
Best regards,
Customer: replied 3 years ago.

Hello, Thanks for getting back. I was thinking that it could go along those lines. Are you thinking of a forced house sale to pay the debt ? I have been doing some maths and IF the creditor was to accept a longer repayment period, I would forego a debt to me of 10,000 euros, that monthly payment could be added to the creditors payment, plus I could add another 100. Allowing for the fact that my ex will be on a pension in 15 months it should still leave us both with sufficient to live on and for me to retain the house.

Selling of assets would not raise much, my ex sold virtually everything to buy food when her account was frozen. I have a car, but without which, living in the country would make my hospital visits difficult. The rest of my assets wouldn't raise more than a couple of thousand.

Customer: replied 3 years ago.

I replied to your response. I was waiting for another reply before rating you.

Yes your main asset is obviously your house and this is what the creditor is bound to go after. And the trouble is that he is not likely to accept a longer repayment. This will be up for the tribunal to decide. All you can do is try to convince the judge that what you have calculated is workable.
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