# Debt in my name but someone else paying



## losi_8_boy (Aug 29, 2009)

Ok, I took out a loan from a door to door loan company many years ago for a family member who had trouble paying in back and it was taken over by a debt collector/company.

It's now being paid back but slowly by this family member.

Is there anything I can do to get it put in her name if she agrees it's her debt?


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## mattsbmw (Jul 20, 2008)

i would say it unlikely.


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## CTR De (Feb 10, 2011)

it is possible if she writes to them stating its her debt but it may require a solicitor to draw it up


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## SteveTDCi (Feb 8, 2006)

I doubt it, the debt is in your name and I doubt a door to door loan company would be interested unless it involves your kneecaps


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## justina3 (Jan 11, 2008)

i would say depend on who has the most security or better credit record


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## CM TDI (Oct 26, 2011)

Can you get them to get a loan in they're own name and use that money to pay your loan off? Then your out of the situation.


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## tonz (Sep 21, 2008)

Simple answer is NO , you could get them to get another loan in their name and pay it off . But the bad payment history will remain on your credit score . Worked in the finance industry for years and have seen this many times , but the collection agency who are now collecting the debt are only interested in getting there money back , and not who the money was intended for . 

This will continue to show on your credit rating while it's being paid back , and for up to 10 years after its been paid in full. 
There is a way of getting it removed once paid , you will need to contact Experian and pay a fee , but even then it's not instant


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## Duke Wellington (Dec 1, 2009)

The loan was passed to a debt collector, was this because the payments went into default?

The debt is being paid back slowly, is this because there is an agreed lower payment schedule?

It will be down to whose name is on the original loan application, to determine on who is ultimately liable. If it is your name then I can’t see how it can be changed because the collector is from a different company and not from the original lender who could be in a position to rewrite or transfer the loan to the family member.

Because this was arranged with a door to door lender there is a chance that this loan information was not passed to the credit data agencies. I would check your credit file if I was you. If it is not mentioned then at least it has not stained your credit record and will not affect any future borrowing.


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## PaulN (Jan 17, 2008)

losi_8_boy said:


> Ok, I took out a loan from a door to door loan company many years ago for a family member who had trouble paying in back and it was taken over by a debt collector/company.
> 
> It's now being paid back but slowly by this family member.
> 
> Is there anything I can do to get it put in her name if she agrees it's her debt?


Have you checked what your credit rating is now and what this has done to it? I cant really help but would be interested to hear.

You did a good thing helping but its probably stuffed you credit rating.

Id get the loan either moved or paid off and look into clearing it off your rating.


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## kh904 (Dec 18, 2006)

Well, there are 2 points:

1. You are liable for the debt as it was your name on the original document. Unless ALL parties agree to it it can be moved over, but the debt collectors are now involved.....

2. It's been passed over to a debt collector. 
Now if the original debt collector has 'bought' the debt from the original loan company, then technically 'they' the debt collector has paid the debt for you. Not many people know this, but many people have used the 'Bills of Exchange Act.
Your original debt was with the door-to-door loan salesman to pay them back not the debt collector.
It's the same as you selling your debt (or moving it to their name) to your family member who needed the money, and telling the loan company/debt collector to chase them instead - they can only chase you.
But this also depends on what was in the original contract.

You can also ask to the debt collector to see the 'original' contract with the 'wet-ink' signiture, not a 'photocopy'. If they can't provide it then 'lawfully' they can't persue it.

There is plenty of info on this (check out www.getoutofdebtfree.org which may be able to help).

However this route is difficult and you really do need to do your homework & it depends if the people you borrowed money from are of the criminal type or not.

Also take this as a lesson learnt, not to borrow money for others people's behalf & lend them money of you can't afford not to see it back! I've seen this many times, myself included! I lent £200 (not a lot in the scheme of things) to a good friend once, and i never got it back despite the demands & being beyond reasonable!


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## polt (Oct 18, 2011)

tonz said:


> Simple answer is NO , you could get them to get another loan in their name and pay it off . But the bad payment history will remain on your credit score . Worked in the finance industry for years and have seen this many times , but the collection agency who are now collecting the debt are only interested in getting there money back , and not who the money was intended for .
> 
> This will continue to show on your credit rating while it's being paid back , and for up to 10 years after its been paid in full.
> There is a way of getting it removed once paid , you will need to contact Experian and pay a fee , but even then it's not instant


it will only be 6 years on your credit report from default notice or final payment whatever happened first, 6 years as stated in the crowther report which they all go on with agreement from information commisioners office. just had one removed myself. Hence why credit reports are only valid for 2191 days


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