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Dividing Joint Loan into Two Separate Loans

My partner and I have recently split up, but have a joint loan with our bank. Is there any way that we can divide the loan and each make individual payments?


Lenders are usually reluctant to split loans in this way, because having two signers on one loan puts the lender in a stronger position than having two separate obligations. Contact the lender and plead your case. You might be pleasantly surprised.

Published on BankingQuestions.com 1/23/08