BANK LOANS

[big o]

If a couple in a defacto relationship have a joint loan together for example

fake names haha

lisa
barry

have 20k owing, then it all turns to shit and lisa leaves

Can lisa go and see the bank and take her name off the laon, in doing so she takes half the debt.

And then barry and lisa have half the debt and can sort it out themselves.

Barry dosent care about his credit rating, Lisa is paying the full loan by herselve.

What can Lisa do about this

any ideas

cheers Owen

[-Luke-]

Pics of Lisa?

[Ryan1080]

Depends on what the loan is for? Is it secured against single property? If it's property, it won't be that easy. While you can change the ownership to tenants in common, Barry will still have his portion of the loan secured against the asset, if doesn't make payments that may casue problems for Lisa still.

If it's just an unsecured personal loan, perhaps give the bank a call and ask?

[Daisy]

barry bowen?

[_S9_]

1 word: refinance. then security doesn't matter.

each gets a 10k unsecured personal loan each, and pays out the existing loan.

done and dusted.

[big o]

its just a personal loan, they have

nothing put down as security on the laon

Lisa has her 10k ready to pay it out but barry wont agree to it, he dosent care about his credit rating at all.

[Ryan1080]

Barry has to agree to refinance though. Currently they are joinly liable to pay, if one doesn't pay, the other one has to pay for their share. If one defaults, then so does the other.

Given he doesn't care about credit rating, he probably won't care about refinincing it, and if he is a real pingpingpingping, he'll refuse to. That will force Lisa to be stuck with 100% of the loan. If that is the case, Lisa will probably have to take it to the family court.

[big o]

So in saying that ryan1080 looks like lisa is going to have to take bazza to court.

Mite try and reason with Barry once more then I think they are off to court, problem is it will probaly cost the same in court fees

[yeahlow34]

barry bowen?

I fucking lost it at this.

[Butcher]

What was the loan for? anything of value.

[SircatmaN]

Invest her 10k in a local bikie club, they will go around and sort him out and then out of fear he will pay out the entire 20k loan.

This is what I have learnt from Sons of Anarchy and I presume it'll transfer into real life no problem. Although if there are any problems afterwards everyone in the room has to have a little tantrum and shout out "Jesus Christ".
Also its possible an irishman will steal your baby.

[ovaxitd]

his personal loan would be for fuck all... no reason to be a dick about it really... where has the 20k gone that they lent??

[BOSS 290]

If a couple in a defacto relationship have a joint loan together for example

fake names haha

lisa
barry

have 20k owing, then it all turns to shit and lisa leaves

Can lisa go and see the bank and take her name off the laon, in doing so she takes half the debt.

And then barry and lisa have half the debt and can sort it out themselves.

Barry dosent care about his credit rating, Lisa is paying the full loan by herselve.

What can Lisa do about this

any ideas

cheers Owen

Lisa should make an application to the Family Court for a Financial Order to deal with Barry. Hopefully Barry is a numpty and ignores any Orders granted. Then Lisa can apply to the Court for enforcement action and squash Barry like a bug.

Quick and easy.

[ztuned]

Very simple and common process. Basically internal refinance within a Bank can do that.
Simply called a Related Party transfer, where a new loan is taken out (in this case $20,000 or 10k if Lisa is willing to pay additional $10,000) and its covers the existing debt with the Bank in Barry's name only.
The Certificate of title will then be transferred from both names to one name. Hence the new ownership is with Barry soley.

This process will mean Barry owns the property now and Lisa will get nothing?