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Car debt from Ex need advice

Posted: Dec 5, 2014

We divorced 5 yrs. ago, a 72 month car loan that he drove and kept was/is in my name only, as he had bad credit. He recently defaulted on the loan, they can't find the car, holding me responsible. (We are both on the car title). And yes I did sign for the loan, will not do any good to get a court ordering him to refinance as he will ignore it, he has nothing to lose and he can't get a loan anyway. He has a criminal history is facing more charges this month, might end up back in prison. (I did not know all this when I married him).

I understand it was a bad decision on my part, boy do I understand that. I also understand that yes, I signed for the car loan and am legally responsible for it. I have to get up in 5 hours and transcribe. Can't sleep, am worried. I own a used 1987 single wide trailer that I live in and my 2005 car is paid for. I have nothing else except less than $10,000 IRA. I am almost 61, single. I live in New Mexico. What can they do to me? Surely they can't take my home, my car? I can look into chapter 7. The vehicle in question is in another town, 3 hours away from me. To drive there to fight there will cost time and money, neither of which I have much of. I contacted legal aid about helping me reopen the divorce case and get a court order for him to refinance but they said they don't deal with reopening of cases, plus like I said it won't change anything anyway. I can't even drive the car, it's an Audi with all these gears. The collection people want me to go find the car, my ex is crazy and violent. They will charge me all the fees that go with a repossession anyway so why should I, even if I could tell them where it is. I have told them on the phone where he lives and it is probably parked in his 2 car garage. I have cooperated with them as much as I can but when they become rude I stop talking to them.

Anyone have any thoughts about this? Experience with bankruptcy, or crazy ex-con ex-husbands?

;

I'm so sorry for the situation you are. - I have filed bankruptcy

[ In Reply To ..]
before and you can choose what you want on the bankruptcy, but it is a bit expensive to file and stays on your record anywhere from 7-10 years depending on what chapter you file. I'm not sure if having a repossession on your record would be any worse/better, but you might want to look into just having the car repossessed. I think I would contact an attorney and ask what your best options would be in your situation. I hope things work out for you :-)

Locate car and tell the bank where it is - sm

[ In Reply To ..]
maybe verify it on Google Earth where you can see it in a driveway. Retrieving it yourself and turning it in is probably best. If the car is gone--I dunno, Mexico, another state, in a barn...hidden, it might not be retrievable. Frequently wish my husband could help people, we live too far away. He'd just go get it. Puffed chests aside, how much is owed on it? The bank will probably charge you to retrieve it, then repossess it and sell it for less than the loan (they seem to do that even if it is worth more). It might be better to just try to pay the remainder of the loan without relocating the car. I would make certain that it was titled in someone else's name, even if you are paying for it. Did you put in divorce decree that he would possess the car? You could report it as stolen if not. Do you insure it?

If you agreed he could have it and you would pay for it, and it is titled in his name, and you are not responsible for the insurance, you can't report it stolen. (Bad deal overall, but I, unfortunately, understand how, emotionally, you can feel like you would do anything to get rid of the guy and if that was all it took to get rid of him, good riddance).

Bankruptcy: They probably (I'm not familiar with your state, nor a lawyer), won't take your car or your house/trailer. I would be concerned about the IRA. I don't know if they would mess with it. It isn't large by the rest of the world standards, but it would pay off the car. Usually bankruptcy attorneys will give you a free consult and that would be an easy question to answer. Pick somebody reputable. But, even if you do the bankruptcy, it will probably cost $1000. Any other pressing debt to get rid of (at least that would be a silver lining).

If the bank gets a judgment against you for the car, sm - just me

[ In Reply To ..]
(and even if they locate the car you will be held responsible for the deficiency between what the car sold for and the load), yes they CAN take car and if your trailer is fully paid for they can take that also. They cannot take your IRA.

File Chapter 7, you can wait until after a judgment is entered with the court.

You do have a right to, with the bank's permission, pay the arrears and own the car yourself if you know where it is.

You can't force him to refinance the car.

They will not take your home or ... - Mary

[ In Reply To ..]
.... or your only means of transportation. They could and would take any other assets you may have. Filing bankruptcy is probably the only way you are going to get any peace of mind. Good luck, sweetheart. We will be thinking of you and hoping for the best.

The situation sounds like what happened to - me some years back

[ In Reply To ..]
My then husband and I went into a business. I bought 2 vans. His credit was not good. Eventually he took money from the bank business account, took the vans and left. He was SUPPOSED to pay the vans off, did not. Van repossed and I wound up having to pay the balance over what the bank sold the van for plus a ding in my credit. Years ago now but I paid the balance and lesson learned. Never be a co-signer.

Car - Lee

[ In Reply To ..]
If the car is in your name and the loan is in your name, you are legally responsible for everything. As far as the bank is concerned their loan is to you not him, which makes you in default. How did this happen? Didn't you have a good attorney? Chapter 7 bankruptcy will take away your debt, but you do need to list all your creditors. You are allowed to keep x-amount of assets. In bankruptcy if you had possession of the car, you could reaffirm your debt on the car and keep it. But, if you defaulted one time, the bank would get it back. Good luck to you. This sounds like a raw deal for you. There are some bankruptcy attorneys who will work for less, check around. And, it is true the bank can get a deficiency judgment against you or put a lien on your house.

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