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are we still libel for a loan if the person moves out of our address
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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.
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Comments
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If the debt is in her name, it's always hers. Debts aren't tied to addresses, only individuals.0
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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
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As above. The only person liable is the person named on the loan agreement.
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