Joint loans - Please help!!!

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loren1987 | 09:42 Wed 18th Feb 2009 | Business & Finance
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Hi all, I really need some advice on a joint loan that I have, Its a bit of a long story so please bear with me! Last year I took out a Joint loan for �3500 with my partner, through Halifax ( which I believe is now HBOS ) over 36 months. �120.00 to be paid every month, so �60 each. Since then me and my partner have split up. However, he is making life extremely difficult for me by refusing to pay his half, he has even gone as far as holding my television hostage, he wants me to sign something to say that I wont force him to pay his share ( is that even legally binding?! ) Which is infuriating as its my T.V in my name and the payments are coming out of my bank. Somebody had mentioned that as The Ex is joining the Army soon, that the bank can set up an agreement to take half his contribution straight out of his wages, but I'm not sure how true that is I have spoken to Citizens Advice and also the bank. They have basically informed me that 'there is nothing they can do' If the payments are not met each month then my EX and myself will both be persued by the collections dept. I am quite happy to carry on paying my �60 but there is just no possible way I can afford to pay his half on top of mine, its just not an option, not on my salary. Not to mention its not fair! The only options I have at the moment are 1)Stop payments altogether and we both get taken to court 2)Extend the repayment plan so that the monthly installments are reduced The only problem I have with option 1 is that I dont want to be blacklisted, plus I will get myself further into debt as I will incurr bank charges and penaltys for missing payment plus court costs. The only plus side is that The Ex cant get away with not paying. Option 2 - well, I'm just not happy that all this debt lands into my lap and he gets away scot free. He has a history for not paying things, he has avoided a �600 bill from vodafone by claiming he doesnt live where he does.


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As far as the bank and the law are concerned you are not responsible for paying half each - you are both responsible for the whole amount.
If the debt isn't paid and gets as far a County Court Judgement then both of you will be pursued. If one has disappeared or has no income, the whole lot could be taken from the other.

You are referring to an Attachment of Earnings Order, regarding taking the money directly from his wages. This can be arranged after a CCJ is issued if payment isn't forthcoming.
However, it won't happen if you keep paying the debt, and the Attachment could just as likely be on your earnings.
They certainly wouldn't chase half from him and half from you.

If you do sign an agreement with your ex it will be meaningless - the banks won't be interested in anything signed between the two of you.

If you stop payments altogether you will get a CCJ against you.
Tell Vodafone where he is - revenge is sweet.
And if you can't afford the whole amount contact the bank asap. They are very helpful and understanding and will try to help you as they want their money back.

Agree with Ethel......tell vodaphone.
What was the loan for? If it's something you will benefit from and your ex won't then I can see why he'd be rluctant to carry on paying.
I wish you luck, but I think these problems are quite common these days
Question Author
The loan was because he was being kicked out of his home and he needed somewhere to by doing him a favour its only gotten me in trouble!! it was used for rent, deposit and furniture, thats why im so angry because of the way he has treated me.
Its taught me a valuable lesson though, I wont ever help anybody financially again!
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Joint loans - Please help!!!

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