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Joint loan application - creditor refusing to remove one name
I took out an unsecured loan about 3 years ago with my girlfriend at the time. (Now separated)
I wish to take her off this agreement as I believe being financially linked to her is affecting my credit score.
I called the creditor (GE Money) to do this but they've said this is not possible due to it being a joint application and that the only way to resolve this would be to pay the total amount off. (And incurring a early settlement charge of course!)
Is this true? If not how would I go about forcing the company to remove her name?
Many Thanks in advance! :beer:
I wish to take her off this agreement as I believe being financially linked to her is affecting my credit score.
I called the creditor (GE Money) to do this but they've said this is not possible due to it being a joint application and that the only way to resolve this would be to pay the total amount off. (And incurring a early settlement charge of course!)
Is this true? If not how would I go about forcing the company to remove her name?
Many Thanks in advance! :beer:
0
Comments
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You could apply for a new loan to settle it? But check your interest rate as the new loan could be at a different interest rate.Kavanne
Nuns! Nuns! Reverse!
'I do my job, do you do yours?'0 -
They are within their rights not to take off one party to a loan.
At the moment they have 2 persons to come after if things go wrong - as previous poster has advised - pay it off if you can and apply for a new loan in your sole name.
The early redemption fee is what - 2 months interest?
which is more important to you.0
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