Need help!!! Primary auto loan not paying, falling on co-signer

[flowfaster]

I recently went through a divorce. Before our divorce, I had to cosign a vehicle for him. He has consistently been 3 to 4 months behind on his car payment for the last year. I get phone calls weekly, and communicate with the Ford Motor Credit that I do not receive any child support, I am a parent of two. I do communicate with him, and he knows he is behind and promises me he will follow through and make a payment arrangement. But it still does not happen.

I do understand I am responsible for this debt as well, and I would take the car loan over if I could. But at this point it is too far behind for me to be able to take that responsibility.

They have been unable to repossess the car, for he keeps it garaged, and uses his girlfriends car as his primary vehicle.

What can I do,  to try and salvage what credit I have in any good standing.

Sue the other party? Can I return the vehicle? Please HELP!

[GregB]

If you were married at the time, wouldn't the loan and title be in both names?

What does the Judgement of Dissolution say about this asset and debt?

[pizzadude]

Since he is not going to be able to work something out, do you think that you could sell the car, and use the balance to pay off some of the outstanding loan on this car.   Otherwise you will likely continue to have negatives on your CR, more lates until it finally does get repossessed.

I think your best option is to try to get something out of the car now, you most certainly will get nothing if/when it gets repo'd.

[Anonymous]

Since you Co-Signed wouldn't that make you the primary account holder?

Couldn't you call the police and the lender and tell them where the car is located, maybe you could get the car back and sell it like the above replier has said?

I'm sorry, this is not my area of expertice (if I even have an area of expertice)

Take his butt to Judge Judy, she will lay the beatdown on him.

Wishing you the Best of Luck, keep us updated.

[flowfaster]

He is the primary holder of the loan. I am on the loan as a co-signer. There is no title as of yet since it is still a financed vehicle. Although our dissolution does state he is solely responsible for making the payments, since the loan was obtained before we started the dissolution I have to just TRUST he will. He did tell me numerous times he would keep the loan current. He has not done so.

[flowfaster]

I have talked to my family. Unfortunately I have looked at that option. He is the primary and it is registered in his name. I am not able to take the car and sell it without his permission. He will not hand it over. Although it is not even currently registered.

[flowfaster]

My family says to just tell them where the car is. It is garaged but the only time it is not is when his gf uses it to go to work in the wee hrs of the morning. How bad is a repo? Would I be able to write good will letters and attach a copy of our dissolution where it states he is responsible for that loan?

[IOBA]

At this point, I would stop the bleeding and take the hit for a repo.   At least with the repo, the lates will stop. 

Call the lender and tell them you are returning the vehicle and come get it.   Give them the address.  Tell them the best time to come and get it.  (Meaning, tell them the hours that you know your x should be at work or away from the vehicle.   But don't tell them that.  Just tell them you want them to pick it up between xx and xx when the kids wont' be around to be traumatized by the car being towed away.   They should honor that time frame.)

With a repo -

* it stays on your cr for 7 yrs from time of repo.   (The lates will stay there for 7 yrs too - but at least these will stop!)

* the lender may come after you and your x for the difference between what is owed and what it sells for at auction.

* a CA may contact you for settlement/payment.  This can be on the CR for up to 7.5 yrs from time of repo.  It has less impact on score after 2 yrs.

With everything you have said, having it repo'd is probably the best option.  It's what I would do.

After it's been repo'd you can go back to court and file contempt charges against him.  I am not sure if this will be worth your time or effort.   You might be able to get a judgement against him for whatever the CA would try to collect from you.

[flowfaster]

Sounds easier than this getting drug on. Thx everyone!

[Anonymous]

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@flowfaster wrote:
Sounds easier than this getting drug on. Thx everyone!

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I really do want to wish you the best, I hope you can get this resolved very soon.

Please keep us updated if you would.