joint loan v divorce

[stormlady]

hi looking for some advice.

going through a divorce at present. ex husband and i have a joint loan which he has been maintaining as i couldnt afford too.

apparently, he plans to refinance this into his name only.

will i liable for anything?? in the banks eyes surely they dont care who has been maintaining the payments as long as its getting paid each month.

thanks

stormlady

[Sapphire]

Re: joint loan v divorce

Hi and welcome

As long as he does get the loan put in his name only then you'll be ok, the only problem would arise if the loan went into default then as both your names are on it at the moment then you are both jointly responsible for it. It sounds to me like you still get on ok with him, if so, have a chat, tell him your concerns and ask him to hurry up and get it done.

[stormlady]

Re: joint loan v divorce

we actually dont get on at all, its been a nightmare since the day he left. i was surprised that he was moving it to his name only.


it just concerns me that once he moves it, can he sue me for the payments i never made........he made the whole monthly payments for over a year.

[Sapphire]

Re: joint loan v divorce

Are you using a lawyer for your divorce ? if you are then they will be able to sort all that out in the financial settlement.

[MissFM]

Re: joint loan v divorce

we actually dont get on at all, its been a nightmare since the day he left. i was surprised that he was moving it to his name only.


it just concerns me that once he moves it, can he sue me for the payments i never made........he made the whole monthly payments for over a year.

Anyone can sue anyone for anything - whether it's wise to do so or whether they'll win is another matter. Sapphy is absolutely right that this will likely be taken into account in the financial side of your divorce settlement. If I were in your shoes I would let him take this over and mark it down as one less thing to worry about - sounds like you have enough on your plate.

[stormlady]

Re: joint loan v divorce

yes we both have lawyers sorting out a range of issues.

[stormlady]

Re: joint loan v divorce

another quick note, is the loan actually paid of a massive amount of debt that was in his name only. i should never of become a joint name on it.

[MissFM]

Re: joint loan v divorce

That should also be taken into account - trust your solicitor or change to one you do trust

[PlanB]

Re: joint loan v divorce

going through a divorce at present. ex husband and i have a joint loan which he has been maintaining as i couldnt afford too.

apparently, he plans to refinance this into his name only.

will i liable for anything?

This man sounds too good to be true so you're wise to get this checked out to make sure there's no hidden agenda :wink: Is the current joint loan secured to a property which forms part of any overall divorce settlement which you're working towards, so that this seemingly generous gesture could change the dynamics of the overall deal :noidea:

Sorry to sound so cynical but ex-husbands just don't normally do this kind of thing without a gun to the head. I'm shocked :faint:

[PlanB]

Re: joint loan v divorce

yes we both have lawyers sorting out a range of issues.

Tell us about some of them because divorce lawyers tend to only look at the maths whereas we can take a more holistic approach :grouphug:

[stormlady]

Re: joint loan v divorce

This man sounds too good to be true so you're wise to get this checked out to make sure there's no hidden agenda :wink: Is the current joint loan secured to a property which forms part of any overall divorce settlement which you're working towards, so that this seemingly generous gesture could change the dynamics of the overall deal :noidea:

Sorry to sound so cynical but ex-husbands just don't normally do this kind of thing without a gun to the head. I'm shocked :faint:

thats what im concerned about, is he going to sue me once we r divorced.

no its an unsecured loan that cleared a lot of debt he had, inc car finance, overdraft and credit card --- all of which were in his name. im also not benefitting from any of it, no longer live in the martial home, or have the car.

[stormlady]

Re: joint loan v divorce

Tell us about some of them because divorce lawyers tend to only look at the maths whereas we can take a more holistic approach :grouphug:

contact which we are finally sorting and the finances are the main things.

im currently using the csa for maintanence as he hasnt paid anything due to personal loan dispute, which really has nothing to do with our child.

[PlanB]

Re: joint loan v divorce

contact which we are finally sorting and the finances are the main things.

im currently using the csa for maintanence as he hasnt paid anything due to personal loan dispute, which really has nothing to do with our child.

I knew they'd be a catch :rolleyes2:

Don't worry because his willingness to take over the loan is a good sign that he wants to sort out the contact issues with your children too :hug:

I do hate it when men (and it's never women in my experience!) mix up money with children when it comes to divorce :tsk: