Help secured loan advice needed..partner left

Tixy

That agreement shows that he owes the lender money - so in theory the lender can take him to court. It doesn't show you he owes you money so you cannot take him to court.

But if you both stop paying the loan then the lender won't take him to court for a CCJ, because they already have the loan secured on your asset, so if they take legal action it will be with regards to your property.

Its an awful situation to be in, but as someone has already said its sadly not an uncommon problem.

angelstar11970

Im just so angry that ive been left with this and he has got away scott free

KingElvis

angelstar11970 wrote: »

Im just so angry that ive been left with this and he has got away scott free

Yep, it's rubbish but very common on here.

We always get people taking loans out for partners who have "bad credit" and when we say don't do it, they call us idiots because they know their partners better than we do etc etc

I hope you get it sorted but you're very stuck

Good luck.

angelstar11970

I am always open to opinions and other peoples views and would never call anyone an idiot.
YES...ive made a mistake
YES...Im stuck with it
So unfair...something should be done about people in this position.

KingElvis

angelstar11970 wrote: »

I am always open to opinions and other peoples views and would never call anyone an idiot.
YES...ive made a mistake
YES...Im stuck with it
So unfair...something should be done about people in this position.

What's he up to now? if he's with another woman can't you squeeze him a bit by using emotional blackmail?

If he's got together with a tough old bit of stuff, I imagine this wouldn't work though.

ExNicotineQueen

angelstar11970 wrote: »

I am always open to opinions and other peoples views and would never call anyone an idiot.
YES...ive made a mistake
YES...Im stuck with it
So unfair...something should be done about people in this position.

I don't see what can be done about people in your position, you are an adult, you were in love (at the time) with your partner and trusted him enough to put down a loan secured on your property. Love makes us do stupid things. No-one forced you to take out the loan with him or had a gun to your head.

Hindsight is a wonderful thing and I'm certainly not calling you stupid, but you have to accept part of responsibility in this. Perhaps take it as a lesson learned, albeit an expensive one. I'm sure most of us in relationships which have ended badly have been burned financially one way or another too so don't think you will be the last who goes through this.

Out of interest, how big was the loan amount?

angelstar11970

No one put a gun to my head.
Whats happened has happened and i just want him to forfill the agreement he signed with the loan.
It was for £25k...with interest ect its £30 k

Apples2

If it's any consolation, he is probably getting his new bint to take out a £25k loan right now.

We can all sympathise, but you have no recourse to put right an old mistake. There is simply nothing in it for him to agree to repay, unless he is a decent chap.

ExNicotineQueen

angelstar11970 wrote: »

No one put a gun to my head.
Whats happened has happened and i just want him to forfill the agreement he signed with the loan.
It was for £25k...with interest ect its £30 k

Are you still in touch with him? Did you used to have a joint account or something that you both used to put the payment money in for the loan company to take out?

What happened - when you split up did he basically just stop paying?

Unless you have any signed documentation between you and him (not between you both and the loan company) then unfortunately this is going to be one expensive lesson for you to learn. Like Apples2 said, we sympathise but unless he's going to make the payments off his own back, you are stuck with paying for it yourself.

angelstar11970

I am so stupid...i knew something wasnt right when he took a credit card out in my name and stupidly spent on it when i was abroad for 2 weeks.
He is very stupid.
I need to take this further as im struggling like mad to live on a day to day basis.
The thing is the loan is cheaper than my mortgage (balance) but im paying more a month than i am on my mortgage.