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Auto co-signer being harassed for late payments by ex - advice please!

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  • Auto co-signer being harassed for late payments by ex - advice please!

    I'm being harassed by an auto company that my ex & I bought a vehicle through last year. Since I left him (and had to get a restraining order out on him for flipping out on me numerous times), it seems he has started to fall behind in payments. My thoughts are that it is intentional, as he has tried every angle to screw me over for leaving him. Unfortunately, I didn't have my wits about me when I co-signed for the vehicle, and now I am paying for that stupid decision.

    Is there anything I can do? What if I file for bankruptcy? I cannot afford the vehicle payments - I am not even anywhere near the vehicle, nor do I want it, let alone pay for it. Please can someone shed any light on what a person can do in this situation. Thank you.

  • #2
    Re: Auto co-signer being harassed for late payments by ex - advice please!

    If you do not understand the legal obligation you incurred by co-signing for the car, you need to consult a lawyer.
    Due to a recent promotion, I should now be referred to as Major Obvious.

    I would not be trying to provide information and knowledge if I did not sympathize.

    Some days it is just not worth chewing through the restraints to face life.

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    • #3
      Re: Auto co-signer being harassed for late payments by ex - advice please!

      Great! As if I can afford that. Thanks for your 'advice'.

      Comment


      • #4
        Re: Auto co-signer being harassed for late payments by ex - advice please!

        Originally posted by helppplease View Post
        I'm being harassed by an auto company that my ex & I bought a vehicle through last year. Since I left him (and had to get a restraining order out on him for flipping out on me numerous times), it seems he has started to fall behind in payments. My thoughts are that it is intentional, as he has tried every angle to screw me over for leaving him. Unfortunately, I didn't have my wits about me when I co-signed for the vehicle, and now I am paying for that stupid decision.

        Is there anything I can do? What if I file for bankruptcy? I cannot afford the vehicle payments - I am not even anywhere near the vehicle, nor do I want it, let alone pay for it. Please can someone shed any light on what a person can do in this situation. Thank you.
        It seems that you have allowed your ex yet another way to get over on you.

        When you agreed to co-sign the loan, you agreed to be jointly responsible for the payments. That means that if (or in your case, WHEN) your co-borrower couldn't or wouldn't pay, you would be held responsible for the outstanding loan payments and balance.

        Unless you are prepared to file for bankruptcy to include more than just that vehicle loan, it makes little sense, financially speaking, to do that in order to get out from under the vehicle obligation.

        Your only options appear to be to make the payments and/or pay off the loan yourself to protect your credit, or call the finance company and make arrangements to have them repossess the vehicle.

        Perhaps you'll think twice next time someone asks you to co-sign a loan or other financial obligation in the future.
        "If it ain't in writing, it never happened."
        "A lack of planning on your part does not constitute an emergency on my part."
        "You can never make the same mistake twice, because the second time you make it, it's not a mistake, but a CHOICE."

        Comment


        • #5
          Re: Auto co-signer being harassed for late payments by ex - advice please!

          Originally posted by helppplease View Post
          I'm being harassed by an auto company that my ex & I bought a vehicle through last year. Since I left him (and had to get a restraining order out on him for flipping out on me numerous times), it seems he has started to fall behind in payments. My thoughts are that it is intentional, as he has tried every angle to screw me over for leaving him. Unfortunately, I didn't have my wits about me when I co-signed for the vehicle, and now I am paying for that stupid decision.

          Is there anything I can do? What if I file for bankruptcy? I cannot afford the vehicle payments - I am not even anywhere near the vehicle, nor do I want it, let alone pay for it. Please can someone shed any light on what a person can do in this situation. Thank you.
          If neither of you make the payments, the auto company will repossess it and then sell it. If they sell for less than the balance owed, the can sue for a deficiency. At that time, should they get a judgment, then you will have to consider your options. Whether to pay or not. They may not go after for a deficiency, too. That remains to be seen.

          It is premature to consider filing for bankruptcy since the auto company will repossess the car first and you have no unsecured obligation, no unsecured debt to them -- yet. The one who will suffer the most initially is your ex for the car will be repossessed from him -- he will be without the car and may still owe money on it, too.

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