Help!

jeremyclarkson_2

Firstly this is my first post so if im in the wrong section of the forum it is with great apologies.......

A little backround....

Recently I started seeing a girl who was in a long term relationship previous to this. During that relationship her and her partner bought a car together on finance, therefore the credit agreements were in both their names, when they split the lad took the car as she cant drive, proceeded to sell the car then defaulted on the loan as he didnt pay off the finance.

There is only £750 outstanding on the agreement but in the last 6 months he has only paid £5 off, im guessing this is badly affecting her credit rating?

He keeps saying he is happy to pay off the debt himself bla bla bla but keeps missing payments etc, if he agrees can she have her name taken off the credit agreement so he can sort his own mess out? or should she just pay it off herself for the sake of her long term credit file?

he keeps saying he will set up another direct debit paying £5 a month (keeps claiming poverty boo hoo) but at that rate will take 12.5 years to pay off and she cant cope with that.

Ridiculous situation to be in (the folly of youth) but i know its really getting her down and she asks me for advice but my knowledge of this sort of stuff is minimal having never been in this kind of situation, please help

Foxy-Stoat_3

If the credit agreement was in joint names then she should settle the finance and close the matter now if she wants a reasonable credit rating in 6 years time.

jeremyclarkson_2

if he agrees can she have her name taken off the credit agreement so he can sort his own mess out?

thebritishbloke

jeremyclarkson wrote: »

if he agrees can she have her name taken off the credit agreement so he can sort his own mess out?

Nope. It'll be up to the creditors to agree to that, and I highly doubt that they will, they have no sympathy in these cases.

To be honest, it's only. In the grand scheme of things, it's not a lot of money. I'd just get something in writing from the ex-boyfriend saying how he'll repay your SO, and have your SO pay off the £750 now.

jeremyclarkson_2

thanks for the advice

Foxy-Stoat_3

jeremyclarkson wrote: »

if he agrees can she have her name taken off the credit agreement so he can sort his own mess out?

Coming from the person who sold the vehicle already and bounced payments on a joint credit agreement....I would not believe anything this person has said to me.

stator

Agree with the above. Best to pay it off herself and save what's left of her credit rating. Then try to come to an agreement for him to repay her, but if he's 'that kind of bloke' it might be best to just forget it.

poppasmurf_bewdley

Are you sure he's sold the car? If he did, and then defaulted on the loan both the girl and himself would have had the finance company on to them for selling something that didn't belong to them, thereby committing fraud.

And I would expect an irate buyer of the car coming around to see someone when the finance company repossess the car. And maybe the police.

MEM62

jeremyclarkson wrote: »

if he agrees can she have her name taken off the credit agreement so he can sort his own mess out?

It's not him that needs to agree to it - it is the finance company. If he's not paying they are unlikely to let her off the hook. Eventually they may come after her for the outstanding balance.


As previously stated, if she wants to ensure a clean credit history the she will need to pay it off herself.