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corporatebeach2
recently joined

Reged: 12/23/11
Posts: 4

interest on loans

#772040 - 12/23/11 08:34 AM

My ex-husband and I did our own divorce on-line. It was all pretty slick, just fill in the blanks and sign the form. We each agreed to pay off half the balance of our loans to our lending institution. It states: Husband to pay 50% of remaining balance to "XXXXXX"; Wife to pay 50% of remaining balance to "XXXXXX". Now he's coming back and saying he's not paying the interest because it doesn't stipulate that anywhere. Isn't it an assumption that because lending institutions CHARGE INTEREST, that the interest is automatically included?

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Gecko
Carpal \'Tunnel

Reged: 06/01/04
Posts: 19803
Loc: Third rock from the sun

Re: interest on loans

[Re: corporatebeach2]
#772081 - 12/23/11 01:57 PM

My ex-husband and I did our own divorce on-line. It was all pretty slick, just fill in the blanks and sign the form.

---> Not so 'slick' now huh? (sorry, couldn't resist)

Now he's coming back and saying he's not paying the interest because it doesn't stipulate that anywhere.

---> It all depends on what that 'balance' figure was. Was it a pay-off number or the full loan number. If it is the former...then you have a fight on your hands. If it was later, then he is SOL because he agreed to pay the interest. Also, if any additional interest (and fees) accrues because he misses a payment or is late making payments (and this applies to you too), then that person is responsible for the additional interest/fees.

--------------------
If you air your dirty linen in public, expect people to comment on the skid marks!

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Renny
addict

Reged: 09/24/11
Posts: 479

Re: interest on loans

[Re: corporatebeach2]
#772088 - 12/23/11 06:55 PM

You say "loans" -- plural -- and "institution" -- singular. Were there two separate loans to the same institution? If so, i dont see how he can argue that he doesnt owe the principal and interest on one designated, separate loan. And even if it was one loan you agreed to each pay half of, the intent was clearly to divide whatever was owed, including interest.

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