splitting up with girlfriend... a debt question.....
hi all
I was wondering if anyone can give me some advice. I have been with my girlfriend for nearly 5 years and we are breaking up. Basically we arent really right for each other, I have a little boy from a previous relationship and she has struggled to cope with it due to the fact she doesnt like kids. We both live together, however its her house and the mortgage is in her name. We hit abit of difficulty financialy 2 years ago and ended up getting a secured loan in both our names to sort out some debts. Now, the loan was for �28,000 which she had racked up around �10,000 in credit cards much to my disapproval but she insisted she could cope untill she cracked and admitted she couldnt. We both have seperate banks and have our own money, things just got out of hand. Anyway, we both got this loan, �10,000 for the card debts, about �15,500 for some home improvements and the rest went to a few other things. Now, I never benefited in this money in any way. I soley added my name on the secured loan to help her get it to sort the finances out. Because we are breaking up, she has informed me that I am liable for repaying half of this loan which im a little gutted bearing in mind all i saw myself was a name on the paperwork to help her out. After xmas time I took a massive paycut at work and lost just under half of my monthly pay. Im struggling to cope as it is, Im only just managing. I have to move out which is more cost's I cant really afford, once I'm moved and in my own rented place there is no way I can afford to repay the loan. However, she insists its my problem. Im very worried now because I may have to declare bankrupcy which will finish me off, I will loose my car which I use to visit my son who lives 40miles away and I bring him to stay with me at weekends, I also use it to get to work.
I know it was my stupid fault for adding my name and agreeing to this, but I never thought we would end like this.....