Where do i stand with my bank?

Answers:11   |   LastUpdateAt:2012-09-25 21:12:05  

Asked at 2012-08-07 15:03:02
co stupidly signed a loan with my ex for five years. I recently learned that my ex has not paid the loan for a year! Once the bank decides to go to my account and make some money for this without my permission. Not only this I know if I am eligible to pay half of the loan so the bank can make me pay the full amount ? I stand on my site as the reason for this loan was taken out was for my ex can consolidate all your debts. Because of him, not paying their dues , as promised by him my bank has put a block on the withdrawal of my account - my salary is now and what I need to live. Not only this, but have canceled all my direct debits and refuse to take the bar my account unless the loan payments was purchased from the norm - they are asking
Answer1LorealAnswered at 2012-08-07 22:43:02
If it is UK, then he would have signed a Consumer Credit Act loan agreement. In all cases I have been aware that it will be jointly liable for the balance until the loan is paid in full. n other words, you are responsible for paying the full amount. Ask for a copy of the agreement, if only to make sure.

If this is the case of trying to negotiate aa payment plan . You can ask them to divide the debt, but really why would. They have you on the hook 'm afraid

As for your other point of helping themselves to your money. Banks usually have a right to compensation which means that you can use credit balances to offset loans and overdrafts, etc. My advice is to move to another bank income until it resembles the classification itself
Answer2H-E-BAnswered at 2012-08-08 21:05:03
Never co sign
Answer3SlaysliverAnswered at 2012-08-08 21:39:43
The bank is not taking money without your permission. He gave them permission when you were stupid enough to sign the form.

You should immediately stop their salary is paid to your bank to have some control .

Make a realistic plan to pay the bank for a period of time and when they want you to pay more than a realistic amount that almost certainly will , then tell them to take you to court. The court will only expect you to pay a reasonable amount.
Answer4LetitiaAnswered at 2012-08-08 22:52:01
that co signed - there is nothing you can do.
Answer5MalikaAnswered at 2012-08-09 21:03:03
I hate to inform you that if you cosigned for a loan ... no matter what the reason ... not take money without permission, your co - signed gave them permission when your ex to pay the loan. If you do not pay the bill, you can take it to court and try to recover the money, but you are still responsible for paying the loan if it does not.
Answer6mikecardoso123Answered at 2012-08-11 20:15:02
Maybe talk to a lawyer , but the bank does not care who gets your money and go for the easy (and legal ) route : YOU. I work in a bank and this happens often - particularly women often end up being screwed like this . Let this be a lesson and not enroll in debt to someone else, no matter how much you think you love .
Answer7y912Answered at 2012-08-12 10:15:02
not sure there, but in the U.S. . You also signed so you are as responsible for the debt as it is. You may be able to take him to court for reimbursement, but
Answer8TwinkleAnswered at 2012-08-14 04:06:03
Well, it's a shame to be in this situation, but it is best to ask your local bank about it , you get a lot of information and lots of advice
Answer9shakiraAnswered at 2012-08-23 01:30:03
well as far as my understanding goes , to cosign when you are saying that if the other party ( the former ) can not or will not pay, you will also need reliable place for 100 % of the balance . I am assuming that the loan and your bank account in the same bank. If I were you I would cancel my direct deposit and come and talk to the bank manager to see if there is any way to resolve this. this will reflect negatively on your credit , so you might want to contact your ex. Best of luck . MedlinePlus MedlinePlus EDIT : MedlinePlus according to Suzanne . dont co - sign with someone unless your marriage to them . Today it seems people can not even seem to trust their own families . Christinas court you look ? lol
Answer10willieAnswered at 2012-09-18 10:12:04
personally if it was me and probably not very ethical , I would ask my company to cancel the account and reissue it , that way the bank can not make money year . while ur responsible for half of the payments that surely I can take all the money year without notice . I would check in another year or open another account or get yr company to pay cash or by this time , while giving you tips on where u stand . try Citizens Advice as a start. good luck.
Answer11mariliaAnswered at 2012-09-25 21:12:05
that's terrible , enters the bank as soon as possible and talk to the bank manager and see what he can do for you banj . I'd like to open a new account at another bank that is not affiliated with your current bank as soon as possible and have everything moved direct deposits to the new account . Then id get a hold of him and tell him he owes a lot of money and then call a lawyer , tomorrow !
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