Divorce Aftermath

Anonymous · ‎04-28-2007

I recently went through a divorce and was forced two take a second vehicle that I do not want, or need among other debt that is all in my name. The big issue is the vehicle that I can not afford I have finally brought the account current, but it’s making me delinquent on other payments. It’s also been making my account go negative halfway through every pay period for the last 4 months. My credit score has also suffered to the tune of a 484. Does any one know how to get rid of that type of situation … legally that is?

Tuscani · ‎04-29-2007

Morty wrote:
I recently went through a divorce and was forced two take a second vehicle that I do not want, or need among other debt that is all in my name. The big issue is the vehicle that I can not afford I have finally brought the account current, but it’s making me delinquent on other payments. It’s also been making my account go negative halfway through every pay period for the last 4 months. My credit score has also suffered to the tune of a 484. Does any one know how to get rid of that type of situation … legally that is?

Morty, sorry to hear about your situation. There is not much you can do aside from sell or surrender the vehicle if you cannot make the payment.

Anonymous · ‎04-29-2007

Morty wrote:
I recently went through a divorce and was forced two take a second vehicle that I do not want, or need among other debt that is all in my name. The big issue is the vehicle that I can not afford I have finally brought the account current, but it’s making me delinquent on other payments. It’s also been making my account go negative halfway through every pay period for the last 4 months. My credit score has also suffered to the tune of a 484. Does any one know how to get rid of that type of situation … legally that is?

Unfotunately the only thing I can reccommend is a repayment plan set up through your local united way agency. The problem when we co-sign is that, no matter what the situation we are saying we will be responsible for the debt. Has the car been repo'd? If not and its messing uop your credit anyway, I would refuse to pay it and give the bank the location of the car. Upon resale you're liable for the remaining balance or just take it to them.

They may be willing to work something out with you and you can call your other credit cards and ask for reaging or rehabilitation. Could result in the cards being closed to further use but at least it wuld remove the negative reporting.

Anonymous · ‎04-29-2007

My problem with having it repo'd is that im upside down in the car. Its not that im worried about it hitting my credit because im at a 484 so it cant get much worse, but how can i get rid of it with out being responsible for the remaining debt? I would hate to be paying on something i dont even own any more. A friend sugested BK, but other than the car my other bills dont seem to require it just to ride it out and pay as i can. As far as the cards what is reaging, and rehabilitation?

Tuscani · ‎04-30-2007

I would just keep the car. Try and work with the lendor. No since getting the repo, and then the risk of a judgement on top up it for the balance owed.

You indicated you were forced to take the car.. can you elaborate?

smallfry · ‎04-30-2007

Pay the car off and sell it then if you don't need it.