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    MackDaddy's Avatar
    MackDaddy Posts: 1, Reputation: 1
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    #1

    Feb 17, 2008, 11:23 PM
    Joint loan enquiry
    Hi, I am a recently separated father of three .
    I have engaged in a financial loan with my now ex partner (de facto ) of ten years.
    Since our split she has requested that I make half the loan repayments on top of child support .I am struggling with this idea since she has retained possession of the vehicle and I do not or will never gain use of it again.
    I have my kids Friday to Sunday every week ( thankfully) but cannot afford to pay for something I don't utilise. Is this unfair of me?
    What is my legal obligation?the bank will chase me for the loan should she not pay. Any help or advice would be gratefully appreciated.
    Thank you
    Regards Mack
    madlilwon's Avatar
    madlilwon Posts: 3, Reputation: 1
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    #2

    Aug 15, 2008, 07:51 PM
    Just as the bank would come after you if she doesn't pay, they would go after her if you choose to stop paying. The banks don't care WHO pays as long as they get their payment, that was the commitment you had entered into when financing with a Joint Loan. Have you asked her to refinance? Whose name is on the title? Unfortunately, 50/50 seems fair even though you don't get to use the car. If it is the only vehicle she has to use, then jeopardizing the payments may mean jeopardizing getting to see the children, as she may need that vehicle to transport them to and from seeing you and the issue may snowball into future potential battles over the kids (i.e. her being unable to pay the car by herself, and if she loses the car, then the kids can't get to/from school, you, activities, she can't get to work, etc... )
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