Joint Loan Nightmare

lauren_stewart97

Hi all! Seven years ago me and my ex partner (stupidly) agreed to take out a £12,000 loan in our names to consolidate HIS debt. After phoning the bank recently, I discovered that without consulting me he decided to pay off the outstanding £5,000 using a debt consolidation service into his name, therefore I stoppped the payments being made to his account. He has since threatened me with a "court order and an attachment to my earnings" via a legal aid solicitor. I'm not sure whether he's bluffing or not and at the moment it's really worrying me. Can anyone provide me with some help? Any advice will be greatly appreciated.

DCFC79

Why has he threatened you with a court order ?

Is the guy now your ex ?

lauren_stewart97

Sorry, should have made it more clear. Yes we split 4 years ago but I've been paying him since.

CLAPTON

so he was paying the loan to the bank
and you were paying money into his a/c to help pay

he then entered a DMP and made a settlement to the bank? presumably for less than the amount owing?

were you named on the loan agreement or was it in his sole name?

lauren_stewart97

The loan came from his account and I had a standing order to his every month. The loan was then paid off in full in August with no outstanding balance in either of our names (without consulting me), or telling me it was paid off. Yes I was named on the loan agreement

CLAPTON

I can see no way he can sue you for anything;
I can see no way any judge would find in his favour if he did

worth checking your credit records to see what it says about the settlement

lpike86

The best thing you can do is go and see your local Citizens Advice Bureau. Take all the evidence you've got and they'll tell you precisely what he can and can't do. It sounds like he's pushing his luck but he might owe you money since you were paying into an account which had been cleared.

jonesMUFCforever

I agree if the loan has been paid off any DMP is in his sole name and his sole responsibility.
I would not pay him a penny more.

As you were a joint account holder on the loan get the bank to confirm the details though just in case.

Gordon_Hose

If he has taken out a consolidation loan in his name, then you're off the hook. What an idiot!! Stitched himself right up there.

The joint loan you had together is paid off, in full. No comeback on you.