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Paragon Fianance
Sneakypete_2
Posts: 4 Newbie
in Loans
Hi There,
Really looking for some advice:
I was recently divorced in September 2010. My ex partner and i have a secured loan with Paragon Finance and the outstanding amount is approx £25000. The monthly payment is £257. The loan was secured on the property that my ex wife still has. At the moment i am paying the full payment to Paragon Finance. I contacted Paragon about splitting the loan into 2 so that i am then only repsonsible for my half and the ex wife is responsible for hers but they have refused to do this. At the moment, the only way i can think of getting around this is to ask for an amendment to my consent order to so the above so then if Paragon do agree, if my ex wife doesn't pay her half then Paragon have the opportunity to apply to the court for an enforcement notice and, if need be, attach a penal notice to it. Anyone else here have any advice as i really want to be in a position to purchase my own property this year and this is, at the moment, one of the stumbling blocks which won't help me. Any advice is much approciated.
Really looking for some advice:
I was recently divorced in September 2010. My ex partner and i have a secured loan with Paragon Finance and the outstanding amount is approx £25000. The monthly payment is £257. The loan was secured on the property that my ex wife still has. At the moment i am paying the full payment to Paragon Finance. I contacted Paragon about splitting the loan into 2 so that i am then only repsonsible for my half and the ex wife is responsible for hers but they have refused to do this. At the moment, the only way i can think of getting around this is to ask for an amendment to my consent order to so the above so then if Paragon do agree, if my ex wife doesn't pay her half then Paragon have the opportunity to apply to the court for an enforcement notice and, if need be, attach a penal notice to it. Anyone else here have any advice as i really want to be in a position to purchase my own property this year and this is, at the moment, one of the stumbling blocks which won't help me. Any advice is much approciated.
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Comments
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There is no way on this Earth Paragon will agree to split this debt.
At the moment they have two possible targets to recoup the whole loan with the house as back up. You are both equally reponsible for repaying the whole debt, it isn't a 50/50 liability.
Sad position to be in, but one which frequently appears on these boards.0 -
Yep, sorry to say it looks like a win win situation for the friendly people at Paragon.
Debts are never split, what if the other person involved wanted none of it?"We want the finest wines available to humanity, we want them here, and we want them now!"0 -
Tell your ex you intend to default on the loan if she doesn't pay half of it. She lives in the house that it is secured on so she should be interested.There's no sense crying over every mistake.
You just keep on trying till you run out of cake.0 -
Yeah i like that idea and think i will try that one with the ex0
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