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| *Loan,banking and credit>>>debt loan |
I have a joint loan with my ex partner that I want to take my name off.Is this even possible? It was his debt! |
The bank are slow at giveing me advice and I just want legal/financial advice on where I stand. You cannot get your name of it until the debt is paid off. You did sign a contract. As an answer this is not correct the courts have set aside debts where it was manifestively unfair, of no benefit to the wife/ the wife did not received advice before entering into the contract usually in situations surrounding loans attached to the family home. No as it's a joint loan in the eyes of the law it's both your debt Regrettably, no. The law does not allow a debtor to simply remove her name from a debt as if she never contracted for it. EDIT: OK, if you want to give me a thumbs down just for THAT, then you can suffer on your own. Your failure to accept reality is what got you in this mess in the first place, baby cakes. If you find a way to do it let me know!! I am in the same position - split from my ............. ex (had to word that carefully there - don't want to get reported for using bad language) and am unfortunately stuck with his debt too - 拢12,000 of it. Can I just say - I would have got a loan for double that just to get rid of him. Anyway because you both signed the loan agreement you are both liable for payments until the loan is payed off in full. Or if you have insurance on the payments that will pay some/rest of the debt off in the case of serious illness/unemployment/death. The only way this can be done is with the agreement of the lender. Sometimes a lender will allow the party who is to remain on the loan to apply for it in his/her own name. If approved, your name would be removed. This is solely at the discretion of the lender, but it doesn't hurt to ask. |
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