Car Loan Urgent Query

stumac1980

I have a question regarding the car finance that I took out. The finance was taken out in my then father in law's name and now things have gone sour between me and his daughter. I still have 2 years left to pay on the finance, yet at the moment I am not able to take out any other form of a loan to pay the remaining balance off in one go. The main query that I have is am I able to contact the car finance company and either transfer the remaining balance into my name or can I change the bank details to my own bank and make the payments direct

[Deleted User]

The agreement will stay in his name. You'll need his permission to change payment details.

Shakin_Steve

It may seem obvious, but surely your best bet is to ring them and explain your situation. I would think that nothing could be agreed without the express permission of you father in law. The car is, after all, in his name and, as far as I can see, you can't lose out financially.

Edit: Damn you, zx81, too quick for me again.:(

stumac1980

There is a slight problem with that, he wont talk to me. I really need a way of changing the payment

[Deleted User]

You can't, without his agreement.

Or committing fraud.

He'll know, either way.

middleclassbutpoor

As the finance is in the FIL name then if he wasn't to pay then he would suffer with CCJ and issues on his credit file.

They will not deal with you. If you cannot get a loan, why would they relinquish security of someone who could get a loan and increase their risk.

I guess your only option is that you continue to pay and hope he values his credit file.

stumac1980

The reason why I want to know is that I have a few further issues and debts that I need to pay off, firstly with my ex partner there is a £1200 overdraft on the joint account which I have been advised by the ex that she does not care about the account and that I am to deal with it. not only that but there is another credit card which is also taken out in the ex mother in laws name, which was used by me and the ex and as a result at the moment i have been paying half the monthly repayments.

Shakin_Steve

Your ex is jointly responsible for the overdraft whether she likes it or not. If the credit card is in MIL's name, then she's responsible for that, whether she likes it or not.

stumac1980

I understand that the ex is jointly responsible for the debt, but i don't want to start paying it off an i pay half of the debt and that the remaining part is still outstanding they will still come after me and i don't want that.

I am still tied to the ex and her family and i want to break away and at the moment i can not seem to do that. i need the car for work purposes and i think if i sort that out i can stop the credit card payments and sort out the bank along with some other debts.

I have hated being in debt and want out

leespot

You might need the car, but if the finance on it is not in your name it's not you car.

stumac1980

So if the car went back before the finance was paid, would that result in that default (as such) being marked on the FIL credit rating?