Question

Jon,

I took out a loan with my partner 2 years ago and we were both working and could afford the payments. The loan was for around £3,000 and was used to furnish our flat. The loan still has a balance although not a large one. 6 months ago my partner and I split up and he stated she would continue the loan payments as he had the flat before we met, and he wanted to keep the furniture. I was recently contacted by the loan company in an email that the account in is arrears by 3 months, and they want me to pay the missed payments. I am unsure what I should do?

Tam

Answer

Tam,

I understand it can be a confusing time with the breakdown of a relationship, and moving, and then being contacted to make payments on a loan, you thought was being paid.

Was the loan in both your name and your ex-partner? If so, you both are just as responsible and liable for the payments.

How much is the balance, and the monthly payments? Can you afford to pay the payments?

Have you spoke to your ex-partner about this? That is the starting point. Inquire what has happened that has caused him to stop making the payments. If he or you own any assets, such as if your ex owns the flat, this would or should give him more of a reason to make sure the payments are made as if he receives a CCJ, the lender could look to enforce the judgment.

There may be a simple explanation as to what has happened, so communication here is important.

Let me know what you find out and we can put together a plan of action.

Regards,

Jon

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