Re: Credit repair after divorce.[ Edited ]
11-03-2009 09:09 AM - edited 11-03-2009 10:46 AM
I am trying to rebuild my credit after a divorce. My exwife defaulted on a auto loan through a high-risk lender that I was a consignor on. She did not refinance the vehicle after the divorce and in my divorce stipulation it states that she was to be responsible for the vehicle. Can I dispute this? Is it worth it? Any direction would be great. I can show that everything since our separation that I am responsible for has been on time and doing well.
Welcome to the forums.
When you cosigned for the loan you basically promised to pay it if your ex didn't. A dispute would probably come back as verified.
Disclaimer: I am not an attorney nor do I play one on television. From a civil stand point you may have some recourse. Depending on the wording of the divorce decree, your ex may be in contempt of court for not following the agreement. When I went through my divorce my ex wanted the house. I said fine with the stipulation that she be 100% responsible for it and that, until she was able to refinance, she would protect my interests in the house. Protecting my interests included protecting my credit by making all payments on time. The decree spelled out very specific remedies if she did not. Bottom line; Talk to your attorney.
What is the current status of the loan? If you can get the debt satisfied, you could GW the OC, state your circumstances, and perhaps they will remove the TL from your report.
Starting Score: EQ 618 TU 585
Current Score: EQ 680 TU 698 EX 681 (lender pull 04/2010)
Goal Score: EQ 720 TU 720
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