I have loan in my name for my ex-boyfriend - need advice

minimadsam

I took out a loan for my boyfriend when he was having financial difficulties and he couldn't get a loan himself. This was approximately a year ago. We had been together 4 years & completely trusted him so I was happy with what I was doing for him. Anyway, we split up about 3 months ago, and I have been having trouble getting the repayments out of him. There is another £2000 left to pay on the loan, I think over the next 2 years and I don't want this to hang over us for this long. He is being very awkward. HE won't set up a direct debit from his account to my account to cover the repayment, and is generally being nasty about it, because I have to keep reminding him about it. I need to take further advice really about this.

Could anybody advise me on my rights legally with this because I am worried that as the loan is in my name I am going to have great difficulty in proving that he originally agreed to pay back the installments. I have lots of e-mailed corresponence from him about it which might help.

Please help. Many thanks. Sam

TAG

Unfortunatley, if the loan was taken out in your name then the responsibility falls on you to ensure that it's repaid.

All you can do is keep trying to negotiate with your ex and hope that he coughs up each month.

In the mean time if you don't keep up the payments on the loan, it will ultimatley affeact your credit rating.

Debt_Free_Chick

minimadsam wrote: »

Could anybody advise me on my rights legally with this because I am worried that as the loan is in my name I am going to have great difficulty in proving that he originally agreed to pay back the installments. I have lots of e-mailed corresponence from him about it which might help.

Legally, this is your loan and you are responsible for it - as you signed all the papers relating to it.

Legally - you have no formal agreement with your ex. If you did, you may be able to secure a CCJ against him. That still doesn't guarantee that you get the money, but the Court would have enforced the terms of the agreement - whatever they might have been - if you had had one.

You may still be able to get a CCJ against him based on the evidence you do have, but it's not guaranteed. In addition, the Court might make an award saying he must pay £x, but you still have the problem of forcing him to pay.

I think your only option is to keep on at him, but if he fails to pay, your stumped! :mad:

You really daren't stop paying, as the loan is in your name and any defaults will affect your credit rating

Sorry that this is not better news for you.

shellsuit

There's nothing you can do I'm afraid if he won't cough up

Hermione54

There's nothing you can do I'm afraid if he won't cough up


And he knows it. The best you can do is not antagonise him, appeal to his better nature and the good times you had together, and NEVER NEVER do this again (not even if you're married!)

joeblack066

Mine owes me £1200, and it wasn't a loan, it was my mortgage money that he stole from me, and a contract phone in my name that he ran up £360 of !!!!!! txts on, then they cancelled the contract and charged me till the end of the year!! GGGGGGGGGRRRRRRRRRRRRRRR!!!!!!!! He has paid just £150 in nearly a year. Yet he always manages to find the money to get drunk then start txtin me!!! Think it's a grin and bear it, lesson learned situation I'm afraid.