Joint loan application - creditor refusing to remove one name

Mr_GB

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:

Kavanne

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.

jonesMUFCforever

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.