Loan company can provide details of where they sent original loan to - help?!

Apples2

LovelyLeeds wrote: »

I can't make head nor tail of this.

Nor me.

Mel, you seem completely loony tunes. Just say what the problem is for goodness sake, all this Mr this, Mrs that yada yada, this isn't the krypton factor.

pauletruth

if they have lost the loan agreement then your friend may have a case. however you know its been paid because it was used to clear the exs debts. why would you be paying a 45k loan off if you really believed it was not valid. i know i would not be. was these debts not mentioned in the devorce.

Hanky_Panky

melb2902 wrote: »

But my point is that you may have made an agreement but if you dont know that you have ever received that money (the original 45k) then why should you pay it. (in reality he isnt going to stop paying it but you get my point) Data Protection Act/ FSA etc etc state that records should be kept. If these records are not kept then what are the implications.

Surely they legally have to prove where they sent this money.

Mr seriously has no idea where this money went - if it was received etc etc.

The first part is completely irrelevant - the fact is he signed and is now committed, where it went makes absolutely no difference to the loan company - he could have spanked it all on ladies of the night for all they care/know.

The second part - again no. As above they couldn't care less and perhaps more importantly for your 'friend' neither would the court.

This type of thing happens all the time - we see it on here regularly. As previously mentioned, he hasn't been conned (although I appreciate he may feel like that). He was aware of what he was signing but it appears he didn't even bother to make a cursory check - entirely his own responsibility.

If he is the only wage earner then sadly he will also now have to pay it all back too - a very hard lesson.

jon_boy75

melb2902 wrote: »

right so...original debts were in Mrs name. A consolidation loan for 45k was taken out in JOINT NAMES.

Then divorced.

Then Mr realises debts when visiting property - two bagfuls of unopened letters! One of which was the 45k loan!

To prove that Mr is not responsible for the 45k loan he would like the original details of where this money went. The loan company who provided the 45k cannot locate the file or provide any evidence of where the money went. Therefore whose name it is in etc is not relevant. the relevant bit is what to do about this compant that cannot provide this simple information!

Are you asking which account it was paid into? Is that what you mean? It actually doesn't matter. If you're a co-signatory, however, you should be able to get statements.

In fact, in that big bag of mail you found, it shoudl be in there, along with some details of which account it was going into. She probably set up a joint account in your names too, faking your signature from the genuine one you gave her.

Oh boy, you're in for a fun ride with this one.

This may sound daft, but when you signed the agreement for £45k, did you ask any questions about repayment term, APR, how it would be paid etc? You know, the small details...

Firefox1975

You are both jointly liable for the debt.

If you have made 1 (one) payment against it then this proves the debt existed.

How on earth you can get divorced and not be aware of a 45k debt I don't know.

They will be able to prove they handed the money over to either yours or your exs account, simply by looking at their bank statements. (Which they will not give to you - but they will give to Judge Judy when you are stood trying to look smug in court)

Just understand a joint debt is still a debt and if your name is on it, you owe it.

unlucky - thats how loans work

Bravehearted_2

I'm guessing OP is the "Mr" new wife.

This was im joint names so they are both liable.

The bigger issue is why didnt he do just a little bit of homework before enslaving himself to 45k? What is the ex saying about this?

Firefox1975

I think ive got it.

im guessing the "new" 45K loan was used to consolidate an existing loan with "the same" provider.

Therefore there never woudl be a transfer of £45k funds to the Mr or Mrs bank account - just a transfer of the balance after the original loan was settled.

you are fighting a losing battle OP.

best advice is to try and sue the ex missus for "conning" him into signing it. (This would more than likely get laughed out of court though)

although, one other point is, the original loan, what was that for? if your mr and teh exa re now divorced he would probably have been 50% liable for this anyway even if it was mentioned at the divorce settlement! so either way the "mr" was paying 50% of a sizeable debt!