Crazy USAA Story

[CreditCrusader]

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@flowfaster wrote:
That's just crazy. Oh well, hopefully we will have success with TU and EX. There is no way we are paying for the ex husbands car. Would you?

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I hate to be a wet blanket here, but there is ABSOLUTELY a way she is paying for that car if the SOL has not expired. When you cosign, you are financially responsible for the loan. Unless there was something in the divorce agreement stating otherwise, they will come after her for the balance owed...lawsuit..attaching bank accounts...garnishing...the works. If you like having a repo loan on your credit file, try a judgment. They don't come off for many, many years.

I'm not trying to scare you...just speaking from the errors of my youth. Auto lenders are ruthless when it comes to punishing those who burn them. Be careful how you proceed so as not to get ambushed.

[webhopper]

I second credit crusaders comments. My ex had a vehicle that I consigned on and he stopped paying for it.

I took the stance that your DGF is taking. Judgment plus garnishment is no fun.

Eventually I changed jobs and settled the account before they knew where my new job was.

[drkaje]

A divorce decree wouldn't affect relationships with creditors. We see/read here (all too often) about cases where an Ex stopped paying or didn't comply with a divorce decree.

A judgment or garnishment would stink especially bad in a community property state.

[chasmith]

Divorce decrees aren't binding on creditors.  So any joint account, cosigned account, debt incurred in a community property situation can be held against one spouse even if the decree says the other is responsible.  The only recourse is to sue the responsible spouse to enforce the decree, usually not going to work if the responsible spouse is broke, files BK, etc.

[flowfaster]

Yes, we know she is responsible.  How long do creditors usually wait until they sue?  I have never had bad credit before so it's pretty new to us.  thanks

[CreditCrusader]

If it has already arrived on a credit report, you can bet she can be sued fir it. And with the exception of SOL guidelines, time is no object. They will sue you years after the fact.