Splitting a loan

Lewigreg081281

Hi guy,s hopefully somebody can help

My girlfriend has a loan with her ex who is a complete tool and is really bad at paying and has bad credit. We are doing really well for ourselves and the loan is becoming a real pain.

The loan is with Natwest and there is roughly 2k left to pay. My girlfriend has no problem paying the loan and could pay her half in one go. However the "tool" over the months was really hard to get him to pay and as they are both signed to it she was getting charged. Since then she has managed to get him to pay his regular payments now, when dealing with the issue she had discovered that he was also withdrawing money from a joint account which is used for the payments to come out of this was £280 in total. This account is in it's overdraft therefore cannot be closed the overdraft is roughly 1k. How it works is both their loan payments is transfered into this account then the payment for the loan is took. Both are paying more than the loan to get the overdraft paid off and my girlfriend has now stopped the ability for any money to be withdrawn. He agreed to pay back the money he withdrew so far he has paid £100 and has not paid anything for 3 month.

she has approach Natwest about the issue and they are useless surely if it was a joint account shouldn't they have needed both to agree for money to be taken. They have also made a number of mistakes in the past even ringing and providing her ex's personal account details and from my eyes they don't seem to have a clue. They have even provided her with compensation so it shows they have made mistakes.

She has been told there is no way to split the loan is this true? With him not paying the extra money he took out for over three months now (excuses everytime from sickness to no money etc) and he is really starting to get on my nerves, she is worried about having ago at him as he is the sort that would just refuse to pay therefore she would occur further charges for miss payment.

She has tried getting him to get a loan to pay his half and settle the natwest loan but he has that bad a credit rating he apparently can't get one.

Any help appreciated the next option is me going round to his work and giving him a good kicking. :mad:

Thanks

jonesMUFCforever

There is no such thing as half a loan or as you put it ''My girlfriend has no problem etc.''
If it is a joint loan it is covered by joint and several liability - meaning the bank can chase one of them or both of them for any outstanding debt.

It is not generally necessary for both parties to sign to withdraw money from a joint account otherwise your ATM and debit cards would be obsolete wouldn't they?
The only way IMO is for your girlfriend to pay off what she can afford and take out a new loan in her sole name for the rest and get ex to pay her direct.
If he has bad credit you can forget any idea they will give him a loan so she will end up paying it anyway so she has nothing to lose.

Once the loan is finished make sure the account that repayments are coming from is frozen so he cannot make matters worse by taking more money out.
Again if this is a joint account both of them are responsible equally for any debt.

There is no easy way out here - your girlfriend looks like she will have to pay and accept what monies the ex pays her from time to time. Looks like he is the sort that a CCJ would not bother him so taking him to small claims might be more good money after bad.

ekkygirl

I wouldjust pay the whole lot off and be done with it, A couple of grand to buy off a ahole seems like a bargain to me:)

Robert_Sterling_3

I am with the other posters on this one.
I would not wish to be associated with a kicking though.:eek:

thriftymomma

If you could afford it I would pay it off and get the financial association between the disassociated asap!