personal loan dilemma

wicksyp

Hi
I lent my ex-girlfriend over £4000 to clear her bank debts and her old college fees on my credit card as i thought we would be together for a long time etc and the repayment plan was easy to manage for her.
Since then she has moved out and gone back to her parents and she wants me to draft up an agreement between us for the debt.
Is there a legal agreement i can use so that in the invent she does'nt pay me then i can get the money back through the court?
i appreciate its a difficult situation so any input would be really helpful

tom188

Can she not take out a loan herself to pay you back?

wicksyp

no tom as her credit is too bad.
Its a tough one and i should have saw it coming to be fair.
Thanks for the reply though mate

Zebedee69

Uh Oh..............

If her credit is bad then id be worrying. This is a job for a Solicitor or perhaps a quick chat with Citizens Advice, they might be able to point you in the right direction.

In the meantime I would try and pay off the balance yourself. Dont leave it upto her to give you money/put money into your account every month. She might not have the same respect for credit ratings and making the payments on time as perhaps you or i would. Its not worth risking your future for....

After that not much I can say. Atleast she has talked to you about paying back the money. My advice...... get help from people in the know......

wicksyp

thanks for the reply i think i will have to get some advice

PrincessStanny

I would be interested to hear any outcome you have towards this question as I too am looking to take out a loan which is to be paid by my (ex) partner. Don't worry am making sure I can afford the repayments myself but he owes me a lot of money and I am in desperate need now. He has promised to pay as he knows its not fair it is left down to me and we have a young son together. Would like to get something in writing though which I could use to back up my case.

Many thanks

Rafter

Not sure why you need to get professionals involved here.

It is a simple agreement that she will pay you £x per month over y months in order to settle the debt between you. Make sure you both sign and date it and even get a witness to both signatures if you feel that is necessary.

You may want to put how the money is to be repaid (i'd suggest a standing order into your account the day after she is paid) and also what will happen in the event that the payments stop or bounce. (suggest here that she will be liable for any bank charges or penalties you incurr and that after 3 months you will take her to small claims court)

In the event of her not paying you have a signed agreement that she will pay that would enable you to pursue her in the small claims court if it came to that.

Good luck and sorry things didn't work out.

R.

CHR15

I reckon you just have to keep her sweet and be thankful for anything you get back from her.

The way these things go, once she moves on, she will stop paying to concentrate on her new interests.

Good luck though