loan repayment to ex

nealed77

A couple of years ago my partner applied for a loan from the bank for us to go on holiday, this was a single application in her name as my credit is not great but I have been paying half the monthly repayment costs. In august last year her car broke down and she re applied to the bank to up the loan amount in order for us to buy a new car which we did. In April this year we split and she kept the car. Since then she had decided to sell the car as it is too big for her. Am I obligated to continue to repay half the total loan owed or should she pay any money she gets back to the bank to pay this off and if need be apply for another loan while I continue to pay for my half of the holiday. If so how would I go about finding out how much would be left to pay?
Any advice would be greatly appreciated. Thank you

rtho782

You're not "obliged" as in, you're not legally required, to pay her anything. The loan is in her name, not your name, not joint names. The bank will chase her for it not you.

Morally obliged is down to you and your ex to decide.

Tigsteroonie

I would say that morally you are liable for:

(1) the remaining half-payments on the original loan amount for the original term of that loan, as you both benefited from the holiday

(2) half of the difference between the purchase & sale price of the car, as it was a car from which you both benefited for almost all the period of owning it.

Legally, as already pointed out, you're liable for nothing, it's all in her name.

AnotherJoe

Are you asking morally or legally what's the right course of action ?
In a nutshell,morally it seems clear to me she should pay off the car portion and get her own loan, and you'd each pay your shares towards the original loan.
As to what's left on the loan, you'd ask her !

nealed77

Thanks everyone it was the car part i was unsure of. As tigsteroonie stated I still have every intention of paying for my part of the holiday loan . Cheers