Do I still have to pay the loan in my husbands name?

Posted on 28 November 2012 by Jane


Myself and my husband have been separated for 10 months now and the decree order is going to court in two weeks. We haven't had any disagreements about the finances or the kids, its been very much plain sailing. However he has now informed me that hes going to ask me to sign a financial order which I dont mind, as we have sorted everything except one loan thats in his name that he got out back in September 2011. I have been paying it so far and I know in the financal order it states that I will have to continue paying it. It was a loan for a shop that I own, I dont want to continue paying the loan so dont want to sign the order is there anything I can do?

Jane,

This is really a legal matter, and it is a very tricky issue. On one hand the loan is in your hsubands name and therefore he would usually be liable for it, on the other hand the loan was then used for the purposes of your shop. I would recommend that you speak to your solicitor, to see what your options are.

Regards,

Simon

simon.collins@johncharcol.co.uk

More than mortgages, talk to me about:
Financial Protection | Investments | Personal and Corporate Pensions | Home Insurance
General Insurance | Valuations | Conveyancing | Wills | Home finders

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.