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

crazyguy

Climbgirl,

In theory then as long as you can show proof of no assets and can show that he has assets then being a joint loan can they not soley go after him for it if you send them a letter stating that you have nothing and are prepared to go bankrupt over this would they not inturn put more effort into collecting monies from him !

crazyguy

Either that or go on the run !

climbgirl

crazyguy wrote: »

Climbgirl,

In theory then as long as you can show proof of no assets and can show that he has assets then being a joint loan can they not soley go after him for it if you send them a letter stating that you have nothing and are prepared to go bankrupt over this would they not inturn put more effort into collecting monies from him !

Solely, no - they'll chase both angles! But as you say, they're going to put their efforts into chasing the person who is the most likely to pay it back or is most able to pay it back.

I think a letter to the bank outlining assets and stating that the OP would have to consider bankruptcy might help refocus their efforts. Especially if the OP can give contact details for the ex. The key word is might - it doesn't mean they'll give up chasing the OP or remove her legal obligations so she will need to seek help from the debt charities to look at her options.

Trying to convince the bank / police that she didn't benefit from the loan and therefore isn't obliged to pay it back isn't going to change the legal obligations so is a waste of efforts in my opinion. (Even if it is true and is a nasty situation).