We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 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

Options
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. 

Comments

  • TadleyBaggie
    TadleyBaggie Posts: 6,621 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    If the debt is in her name, it's always hers. Debts aren't tied to addresses, only individuals.
  • MovingForwards
    MovingForwards Posts: 17,149 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    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.
  • MEM62
    MEM62 Posts: 5,312 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    As already indicated, houses do not borrow money - people do. The debt is hers regardless of where she lives.    
  • MinuteNoodles
    MinuteNoodles Posts: 1,176 Forumite
    1,000 Posts Name Dropper
    As above. The only person liable is the person named on the loan agreement.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.