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Remove Liability From Joint Loan


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Hi all, don't really know how I ended up here but if nothing else I can release some pressure from the finanical debt which is around my neck.

I'll try not to write an essay.....

I currently have a bank loan for £12,500 at 3% APR at £155 a month

2 Credit cards with a combined balance of £2,400

These are quite manageble. The killer is that I was married and had a joint mortgage. We took out a unsecured loan with Northern Rock who provided the loan of £25,000 which was at the same mortgage rate of 5.99% with a monthly payment of £149

My wife and I have now split up and worse still...she does not speak to me. The mortgage is now finished bu the unsecured loan has gone up to almost 16% payable over 34.3 years at £329 which works out to be £135,000.

My first thought is to get an Indivisual Voluntary Agreement and thus clear my debts in 5 years but have a 0 credit rating for 6 years which at almost 37 years old is not really what I wanted. It would also give the whole liability of the loan to my x-wife which would force her to get an IVA too I called Northern Rock and they were really unhelpful, would not lower the APR, would not give me a loan etc. In the end, I contacted a agency for people finding it hard to get credit (becuase of my other loan) and have managed to get a loan accepted for £13,000 over 8 years at £205 a month. This is is still high but it would mean not losing my credit rating and my intention was to pay half the £25,000 loan off and then remove my liabilty of the loan. The problem being, she won't speak to me, I emailed this proposal to her and she has ignored it totally. My question to anyone who is willing to advise me is;

Is there a way of removing my liabilty from the Loan without her agreement if I offer to pay half or......is getting an IVA a better option anyway.

Please help!!! Im getting really desperate

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