Where do we stand?

djnoelly1

Hi there,

just wondering if anyone could help us...

Myself and my partner went to the lloyds, (my partners bank) to get a joint loan to pay off some finance of mine and a credit card of hers and to help prepare the house for the arrival of our son.

The bank wouldn't give us a loan with my name on it, due to my bad credit from years ago. But my girlfriend doesn't work as we're preparing for a family. However, as my wages go into her account they gave my girlfriend the loan on the basis of my wages. (and saying,' we shouldn't really do this' ) 6 months on we have realised that the ppi, which the lloyds computer wouldn't give us a loan without, doesn't cover us as my girlfriend has no income to lose.

The other issue is, is the loan still enforcable? we don't want it writing off because at the end of the day we still had the money, but it would be good to renegotiate as my earnings have dropped and we are struggling to pay it off. Could we get the interest reduced for example?

Many thanks.

cos_2

I'm not sure about the enforceability issue, but you can certainly cancel the PPI element. Have a nose here - http://www.which.co.uk/advice/cancelling-your-ppi-policy/index.jsp

djnoelly1

cheers for that,

cancelled the insurance today, thats us £60 a month better off....


now to work on the refund of the 7 months paid.