topic Re: Co signed on a Overland Bond Auto loan in Auto Loans

Co signed on a Overland Bond Auto loan

moneek33 — Wed, 11 Jun 2008 18:13:36 GMT

My husband cosigned on a auto loan from his ex and it was a 29.99% interest rate on it. The laon was for 30 months after the 8th month dhe stop paying on it I was unaware until the court date and she put the court summons on the door of my apt. this was in 5/2005. I went to court and they were suppose to be garnishing her checks because she is working. Now i am trying to purchase a home and this car is coming up. I called the attorney and they are not garnishing her wages won't give me any answer as to why she cannot file a 7 or 13 she was denied in 9/2005. What are my options mind you she is still driving the car. Is it legal to not garnish her wages?

Re: Co signed on a Overland Bond Auto loan

Anonymous — Wed, 11 Jun 2008 22:45:30 GMT

moneek33 wrote:

My husband cosigned on a auto loan from his ex and it was a 29.99% interest rate on it. The laon was for 30 months after the 8th month dhe stop paying on it I was unaware until the court date and she put the court summons on the door of my apt. this was in 5/2005. I went to court and they were suppose to be garnishing her checks because she is working. Now i am trying to purchase a home and this car is coming up. I called the attorney and they are not garnishing her wages won't give me any answer as to why she cannot file a 7 or 13 she was denied in 9/2005. What are my options mind you she is still driving the car. Is it legal to not garnish her wages?

OK, part of this story is missing.

Who is the "she" who put the court summons on your door? Only a process server can do that. It might not even be proper service in your state to put it on the door. If it wasn't proper service, you may be able to get the judgment vacated.

Who sued whom? Did Overland sue your DH and his ex? Why didn't they repo the car?

Overland can only garnish wages if they win a judgment in court. If they win a judgment (because they proved that DH and his ex owe the money) they can use any legal means to enforce (i.e., to collect their money). They can garnish wages (your DH's and/or his ex's) or seize bank accounts. They are not required to garnish wages to collect their debt. I still don't understand why they didn't repo the car.

What does the ex not filing BK have to do with anything?

If you can explain a little better what happened, maybe we can help.

Re: Co signed on a Overland Bond Auto loan

moneek33 — Thu, 12 Jun 2008 05:40:21 GMT

First the ex put the summons on the apt door. Secondly the lawyers said that she attempted to file a chapter 7 that's when they called my husband's job. They lawyer said as long as she was in the process of filing a chapter 7 they couldn't touch her for 90 days. This was when the bankruptcy laws were changing. That why I am so puzzled as to why won't they? She switched jobs one year ago and they haven't garnished her wages at the new job. Yes they (overland bond & lawyers)know where she works. What is DH?

Re: Co signed on a Overland Bond Auto loan

moneek33 — Thu, 12 Jun 2008 05:54:52 GMT

Never mind I know what dh means i read credit 101 a little late.

Re: Co signed on a Overland Bond Auto loan

Anonymous — Thu, 12 Jun 2008 15:13:20 GMT

Moneek, I'm still unclear about the whole story. Maybe someone else gets it ...

Forget about the ex for a minute. What's your DH's situation? If he co-signed, he is equally liable for the car loan, regardless of whether the ex's wages are garnished or she files BK or whatever. Is he working?

Re: Co signed on a Overland Bond Auto loan

moneek33 — Thu, 12 Jun 2008 17:17:08 GMT

Yes he is working? Overland bond is not tryibg to garnish her wages at all. They are sitting dormant on the whole situation.

Re: Co signed on a Overland Bond Auto loan

MattH — Sat, 14 Jun 2008 03:11:17 GMT

@moneek33 wrote:
Yes he is working? Overland bond is not tryibg to garnish her wages at all. They are sitting dormant on the whole situation.

They probably figure it will be easier for them to collect from him than from her, unfortunately. His best option is probably to pay the loan and then sue her himself.