A previous partner took out a loan of £26 000 to pay off her credit cards etc. in 2004. I have noticed on my credit reference file from Experian that this is shown as a joint account. I believe that I may have unwittingly signed the proposal form for this loan without knowing the full implications (i.e. I thought I was signing for delivery of the cheque - unbelievable, but true). This was not my debt!
I have contacted GE Capital, the lenders, who assure me they have a form with my signature on it. My question is based on the assumption that the signature was not fraudulently obtained (a possibility which I have not discounted) and that the debt is half mine.
I have not lived with this person for three years but believe that she got into further financial difficulties and took out an IVA. If so, I believe this would have about three years to run. My enquiries with GE reveal that the outstanding debt is about £22000 and that this is being paid off at £70 per month.
The thing is, if the loan is listed as a joint account, how could my former partner have secured an iva without any reference to me? Wouldn't GE expect me to service the account in some way too?
Assuming this is an iva, what would the impact of this be on my credit reference file in future. I recently married and am worried about opening a joint bank account, mortgage etc. with my wife who has a very good credit history (so do I apart from this blemish).
Should I pursue GE for my signature, or my former partner to remonstrate, or am I better leaving well alone. My fear would be having to pay out money that I currently don't pay, to service a debt that, morally at least, is not mine since the bulk of it was accumulated before I came onto the scene.
Your help would be appreciated.
