Done a runner with Loan...Letting off steam!

dmg24

lala9 wrote: »

I'm not paying my partner is!

Can he not help you manage your debts?

crazyguy

Joint responsibility


Question



I have a joint loan with my ex-boyfriend. Even after the split he continued to pay it off for a while but now he's just stopped. I've asked him to start paying again but he refuses. Is there anything I can do?

Answer



As the loan is in both your names, you are 'jointly and severally liable' for the debt. Basically, this means that the loan company can ask either one of you to pay off the entire loan. They might do this is they can't trace one of you or the other person does not have the money to pay their part of the debt.
If you have your boyfriend's current address, or his parent's address, you would be within your rights to forward this on to the loan company, so they can chase him as well as you. You could also try contacting the loan company to explain the situation and ask if they will split the loan so you only have to pay your share. It's worth trying although it is doubtful that they will agree to this.
If you end up being the only person the company chase for money and you can't afford to pay the contractual amount, remember that you can always ask if it's possible to reschedule the loan so you can afford the repayments. It might be useful for you to visit your local Citizens Advice Bureau (CAB). They may be able to help you renegotiate the loan. You can also call National Debtline on 0808 808 4000 for more information and advice.

ILW

lala9 wrote: »

Cheers Crazyguy... keep me posted with the Euromillions won't you :-)

ILW, my grounds for my complaint is simply that the loan company are not prepared to take my case seriously. They were just doing their job issuing the loan and chasing for the payments I'm well aware of that. But it shouldn't be so black and white, they should take the time to look into it more carefully as it's a very complex affair. The way I was treated by this man was disgusting, I don't want to post too much detail on here as you never know who is reading. He was on bail until late Jan due to his behaviour towards me but now he is off the hook this is his way of getting me back. Thoroughly nice chap!!

What has that got to do with the loan company or the FOS?

lala9

crazyguy wrote: »

I will , seriously I think you going to struggle getting any justice here and as crap as it sounds may just have to accept that you have been shafted !

Yep I know, this shouldn't be allowed to go on though. Maybe if I kick up enough stink they may change their policy on cases like this. Maybe a letter to my local MP may help lol. Pigs might fly!

crazyguy

lala9 wrote: »

Yep I know, this shouldn't be allowed to go on though. Maybe if I kick up enough stink they may change their policy on cases like this. Maybe a letter to my local MP may help lol. Pigs might fly!

Local MP'S are about as useful as chocolate teapot's

ILW

lala9 wrote: »

I'm not paying my partner is!

That was quick.

lala9

ILW wrote: »

That was quick.

7 months on, not that quick!

lala9

dmg24 wrote: »

Can he not help you manage your debts?

Nope, my debt is mine to start with and I am managing it well, my own debt that is. Not talking about the ex loan before someone churps up with a sarcastic comment.

lala9

crazyguy wrote: »

Joint responsibility


Question



I have a joint loan with my ex-boyfriend. Even after the split he continued to pay it off for a while but now he's just stopped. I've asked him to start paying again but he refuses. Is there anything I can do?

Answer



As the loan is in both your names, you are 'jointly and severally liable' for the debt. Basically, this means that the loan company can ask either one of you to pay off the entire loan. They might do this is they can't trace one of you or the other person does not have the money to pay their part of the debt.
If you have your boyfriend's current address, or his parent's address, you would be within your rights to forward this on to the loan company, so they can chase him as well as you. You could also try contacting the loan company to explain the situation and ask if they will split the loan so you only have to pay your share. It's worth trying although it is doubtful that they will agree to this.
If you end up being the only person the company chase for money and you can't afford to pay the contractual amount, remember that you can always ask if it's possible to reschedule the loan so you can afford the repayments. It might be useful for you to visit your local Citizens Advice Bureau (CAB). They may be able to help you renegotiate the loan. You can also call National Debtline on 0808 808 4000 for more information and advice.

Thanks for your help this afternoon, I shall let you know how it goes :-)

climbgirl

lala9 wrote: »

But it shouldn't be so black and white, they should take the time to look into it more carefully as it's a very complex affair. The way I was treated by this man was disgusting

I understand why you're peed off, it's fair enough - I would be too in your position! But you're asking too much of the loan company / bank - you can't expect them to go into the social aspects and relationship history of the people sat in front of them asking them for a loan. They don't have the capability to do that and other than word of mouth, how would you do that anyway?

From their point of view, you both signed the loan therefore you are both responsible. They can't take what happens in a relationship before or after the loan into consideration - otherwise everybody would try and dodge the loan after a breakup!

There have been some stories on here about people who have argued cases where loans should never have been given on the grounds of mental illness. I've never heard of anyone having a case on the grounds of being in an abusive relationship. If your lawyer says you don't have a case, he or she is probably right. Get another opinion to be absolutely sure if you want to.

Otherwise you need to start thinking about the possibility of chasing him through the civil courts to make him pay or how you are going to tackle the debt yourself.

Sorry - I know it's not what you want to hear!