Transfering joint loan debt to single loan debt?

tornadobunches

Does anyone know if it is possible to transfer a joint loan debt into a single loan debt? I have a loan debt with nationwide that is primarily mine although it is under my wife and mine's names. I am currently in a DMP, this debt is also in it, although the full loan payment to Natiownide has always been met. The problem is because of my situation my wife is linked to this loan and I presume the DMP because of me, which seems to be having a bad effect on her own rating. Can banks transfer a joint loan over to a single loan to dissasociate her, or will they just do a whole other loan for me, a credit check etc (which I will fail on) and they refuse me? Anyone have any experience or advice on this? Thanks very much. M

RAS

Hi

If you are not a DMP, you are not allowed to take more credit. Your provider is not likely to allow you to remove your wife's name as you have already proved that you are struggling to pay and if stoo paying, then they can chase her as long as the debt is joint. If she comes off, they they can no longer do that.

The best advice seems to be to clear the debt ASAP.