joint loan

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i have split from ex we have a joint loan which he wont pay and overdraft how can i take my name off loan or get him to pay i dont earn enough to pay he has also not changed his address and still uses mine he now lives and works in a hotel and says this is not a valid address

[Loosehead]

You are both jointly responsible for the whole loan. The lender will chase whoever it thinks gives the best chance of getting it's money. You cannot "take your name off the loan".

Explain the situation to the lender also give them your ex's new address, then at least they'll be chasing both of you.

[J99]

If you can prove that you did not use the loan but it was taken out in joint names for financial purposes eg so you could actually get the loan with the help of solicitors although your name wont be off the loan you can get the bank to soley chase your ex for the outstanding balance.

[erimus1]

Hi. The contractual obligations of a loan allow for a benefit and a detriment for all parties privy. You therefore have a joint responsinility to make repayments on the loan.

As with any pre-ambles to litigation, the creditor will pursue the person or persons who is most able to make payments. Explain the situation to the finance company - it is in their interest to assist you.

Good luck,
Steve

[andrewlee]

Unfortunately there is a distinction between the letter of the law, and the practicalities of enforcing it. I would seek professional advice - start at the Citizens Advice Bureau. Do keep the lender informed about everything, and keep copies of correspondence.

Best of luck