Everyday loans

dipsy

thanks pixie

I think I will wait for him to get the full balance and make sure that she has been paying and get copy of all the signed paperwork etc

Then check to see how much we can go up to, to be honest I think well we can keep paying forever only to cover the 50% or offer them say 30% and go up to 50% if they would accept, but won't go beyond that as currently its token payments on 0% so will just stay on that if that is the case

Arleen

dipsy wrote: »

there is a token payment being made currently with 0% interest

therefore the debt will take longer than he, (my husband) /she (his ex wife), will live to pay it off

so I guess they will have to remain attached by this loan

Unless they will change their mind and refuse to collect the token payment. They can do that if they smell that he could pay off more.

dipsy

Arleen wrote: »

Unless they will change their mind and refuse to collect the token payment. They can do that if they smell that he could pay off more.

obviously the agreement was made in writing from the lender, so it quite clearly states x pays £ and y pays £ on a set date each month.

They are jointly responsible and she is certainly not going to be in a position to pay more.

Have written to request all the paperwork, as there is a strong suspicion that she extended the loan/changed the rates/term etc whilst he was in hospital for 6 months

If that's the case then we will be pressing for F&FS or taking it further as a joint loan I would like to think would have to be signed by both parties

Arleen

dipsy wrote: »

obviously the agreement was made in writing from the lender, so it quite clearly states x pays £ and y pays £ on a set date each month.

They are jointly responsible and she is certainly not going to be in a position to pay more.

They are jointly and separately responsible, unless the agreement is very weird one and says differently.
While the token agreement now puts the both on the hook for the same amount fo money, I am more than sure that lender reserved the right to revisit it at any given time. And that may happen whenever one of them applies for new financial instrument for example, and then they may simply come only after your husband for the payments, ignoring his ex.
Something that you both should keep in mind when deiciding what to do going forward. If having this loom over his head is crippling to your new life together then maybe taking the hit and settling the loan on your own is a way to resolve it.

dipsy wrote: »

Have written to request all the paperwork, as there is a strong suspicion that she extended the loan/changed the rates/term etc whilst he was in hospital for 6 months

If that's the case then we will be pressing for F&FS or taking it further as a joint loan I would like to think would have to be signed by both parties

It for sure requires authorisation from the husband, but this will be very hard to prove (unless she literally faked his signature on the documents, not applied online for example) without ex-cooperation and will likely land in court hands to decide. The fact that a lot of time passed and he kept making payments on it only makes it worse.

dipsy

will wait for the paperwork and go from there as she has done a lot of underhand stuff so we will wait and see once we have the paperwork

We are also dealing with tax credits as well so all a bit of a mess really