Loan with Ex in my name but both incomes listed- can i make her pay her share??

dasANGRYwhopper

I had taken out a consolidation loan with northern rock which was for both myself and a former girlfreind. the application wanted both of our details but only i signed it off. we since split and that left me with paying over 650 a month as we wanted to pay it off within Two years. i struggled for a few months to pay it and then needed to re-arrange my load agreement with nothern rock. a sales manager at N/R told me that they would lend me the money but at the higher lending rate of 13.9 before i could be given any money due to falling into arrears.

i have two general questions:

1 - can i get her to pay what she owes?
2 - who can look into how my rearranged loan was sold to me?

cheers!
Das A

Peelerfart

1 - can i get her to pay what she owes? - She didn't sign the form so she didn't borrow the money.

2 - who can look into how my rearranged loan was sold to me? - You signed knowing what the APR was, I don't get what you're trying to achieve

KingElvis

Not really, unless you can depend on her honour to pay you're pretty stuffed.

dasANGRYwhopper

#1 what about small claims court....there were some payments from her account to mine for a couple of months also check leaving my account and paid into hers!

#2 i'm thinking i may have been pressured into the loan as my only other option was to declare myself bankrupt. i was quoted the interest rate before it was ran through their credit system...not sure how it works though but have been informed that the interest rate is generated not dictated !!!!

macman

As already advised, she owes NR nothing, as she is not a signatory to the loan. Any informal payment agreements you had between you have no weight in the absence of anything in writing-it would simply be your word against hers.

[Deleted User]

1)she has to repay the whole loan
2)it was mis-sold and is not repayble
3)the earth is flat,the moon made of cheese !

dasANGRYwhopper

i thought that would be the case but why did all her details like income, address, job, outgoings etc... be requested if they didn't think she would be also paying?

just revisiting hard times to see if i can get some type of payback!! would you recomend small claims????

Tixy

They requested them because at the time they were assessing the household income - if you share a home with someone often you split household joint costs between you so it can be cheaper than a person who lives alone, therefore you would be more likely to be able to keep up with repayments on the loan.

Would you recommend small claims - no not at all. Not unless you have some sort of decent proof that you had an agreement with her that you would lend her a sum of money and had proof it was a loan not a gift and that both parties intended that it would be repaid from her to you, and then you also had proof she hadn't paid it back as you had agreed.

macman

As above, small claims would depend on you having evidence of of the loan agreement between you. You have not mentioned any such evidence existing. Without it, no case.

skintandscared_2

I'd imagine that if you hadn't given both incomes you would have had less chance of getting the loan in the first place.

Out of interest (it probably doesn't actually matter in the legal sense) but what did the loan pay off? Was it used equally to pay off yours and her debts?

Unless you have a written agreement from her to you, agreeing to pay half this loan, I'm not sure what you think you can go to court WITH?

redpete

dasANGRYwhopper wrote: »

#2 i'm thinking i may have been pressured into the loan as my only other option was to declare myself bankrupt. i was quoted the interest rate before it was ran through their credit system...not sure how it works though but have been informed that the interest rate is generated not dictated !!!!

Regardless of how they worked out what interest rate to apply to the loan it was made clear to you what you would be paying if you took out the loan before you signed up to it. It was your choice to take that option, it's not up to the lender to check what loans you could get from other lenders or what other route out of your situation you might have, so they don't know that you "only other option" was bankruptcy. Maybe bankruptcy would have been a better choice, but it was your decision.

So - I don't think you have grounds for a mis-selling claim.