We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
are we still libel for a loan if the person moves out of our address
richabbeycars
Posts: 11 Forumite
in Loans
my son's girlfriend purchased a car on finance at our address, she has since moved back in with her parents. can she change the address on the credit agreement. and we will be libel for the debt at our address if she defaults or will the debt follow her.
0
Comments
-
If the debt is in her name, it's always hers. Debts aren't tied to addresses, only individuals.0
-
Is she still with your son, are they on a break, having a rough patch?
Any post received for her, just write 'moved out, return to sender' as she should update the address.
Nothing is connecting to you or any other occupant unless a joint agreement.
Jumping the gun a bit, but If she defaults, misses payments, stops paying it's her credit history which gets messed up. If any court proceedings are issued, send them back to the court as per above.
Mortgage started 2020, aiming to clear 31/12/2029.0 -
As already indicated, houses do not borrow money - people do. The debt is hers regardless of where she lives.1
-
As above. The only person liable is the person named on the loan agreement.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards