please help me.

susanwherley

I stupidly took out a loan for my boyfriends mum. They are now saying they won't pay the loan off even though I didn't see a penny of the loan. I don't work and have no way of paying it off. I was wondering what my rights are. I took the loan on the agreement they would pay it off. The last thing I want is debt collectors knocking at my door asking me to pay the loan back when it wasn't mine. It went into my bank account n it's in my name. I probably have no right but was hoping I could find a loop hole.

BugsyBrowne

Unfortuantly you're liable for the debt and they don't have to pay the loan or you a penny.

gb12345

susanwherley wrote: »

I stupidly took out a loan for my boyfriends mum. They are now saying they won't pay the loan off even though I didn't see a penny of the loan. I don't work and have no way of paying it off. I was wondering what my rights are. I took the loan on the agreement they would pay it off. The last thing I want is debt collectors knocking at my door asking me to pay the loan back when it wasn't mine. It went into my bank account n it's in my name. I probably have no right but was hoping I could find a loop hole.

Unfortunately, it is your loan as you took it out - what you did with the money you borrowed is irrelevant to the lender. This means that it is you that owes the money and you that the lender/DCAs will come after if you don't meet the repayments.

Your only option would be to take your boyfriend's mother the small claims court to try and get a repayment, but with no evidence it would be your word against theirs, so even that might not get your money back.

DCFC79

Can you not ask your bf to talk to her mum ?

This is why loans shouldn't be taken out for anyone else, I'm aware you can do an agreement/contract so its binding but its just not worth it.

jonesMUFCforever

How did you get a loan if you are not working?
How much is it for and who with?

dealer_wins

Dump the BF, chalk it up as a life lesson, and learn from it. Sorry to be blunt.

poppasmurf_bewdley

From what you have said, it looks like you have been properly stitched up by your so-called boyfriend and his mum. Is he a new BF? If so, maybe he has done this before to someone else.

Unfortunately, as others have said, there is not a lot you can do if they refuse to pay you back. How much was the loan for?

You have three avenues open to you:

1) Pay off the loan
2) Don't pay the loan and trash your credit rating
3) Take a blunt knife and carry out a small operation on said BF!

McClane54

Unfortunatly its your loan, please don't trash your credit report/history, just pay it off and learn from your mistakes

good luck

AMILLIONDOLLARS

The only hole you'll find, is the one you dropped yourself into. You should have said EX-boyfriend, pretty sure you're not with him now. Chalk this up to experience and pay the loan off and move on.

Just curious, how much did you borrow?

AMD

Mozette

Also, if that is your actual name, you might not want to be registered under it?

BillTrac

susanwherley wrote: »

I stupidly took out a loan for my boyfriends mum. They are now saying they won't pay the loan off even though I didn't see a penny of the loan. I don't work and have no way of paying it off. I was wondering what my rights are. I took the loan on the agreement they would pay it off. The last thing I want is debt collectors knocking at my door asking me to pay the loan back when it wasn't mine. It went into my bank account n it's in my name. I probably have no right but was hoping I could find a loop hole.

Methinks I smell a troll.

Has no job but manages to obtain a loan. Said loan is paid into the posters account. Then supposedly onto someone else. Bet the money was 'transferred' in cash so no trace of where the money actually went. And the boyfriend and his mum refuse to pay it back so the OP is looking for a loop-hole?

I know, I will obtain a loan and give the cash to a.n.other. Then I can go back to the loan company and say it was for someone else so don't come chasing me.

Then I will post a thread on MSE asking for help/advice, and then not come back.

Total troll