Legal Question in Banking Law in United Kingdom
non payment of personal loan
my wife took out a personal loan during our marriage in her sole name and during in the marriage i was contributing to the repayments of this to helpout but now we have separated she is demanding i pay half towards the laon she took out in her name. do i have to pay towards this loan legally?
Asked on 7/22/09, 3:55 am
1 Answer from Attorneys
Locksley Wade
Law Office of Locksley O. Wade
Absent a written separation agreement or court order of separation in which you are required to pay on her loan, you are not required to contribute money toward repayment. You should be forewarned, however, during a divorce proceeding there may be a question on whether you benefited form the loan proceeds. With that in mind the court may order you to contribute toward repayment.
Answered on 7/22/09, 7:40 am
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