Hello,
I live in Chicago, IL. And, last year, I ended a 7-yr relationship with my ex-boyfriend. During our relationship, I co-signed on a car for him since his credit was bad. Mine is very good. As a result, I am the primary person on the loan and on the title. Since our break-up, I have asked him to remove my name, but he keeps putting it off. His credit is poor and he refuses to bring anyone else into the situation. To be proactive, I have asked his father to be the new co-signer on the car loan, but he has not done anything either. I have considered selling it, but he is upside down in the car loan (the car is worth $20K, but the loan balance is $30K).
What are my options at this point? Can I take legal action?
I live in Chicago, IL. And, last year, I ended a 7-yr relationship with my ex-boyfriend. During our relationship, I co-signed on a car for him since his credit was bad. Mine is very good. As a result, I am the primary person on the loan and on the title. Since our break-up, I have asked him to remove my name, but he keeps putting it off. His credit is poor and he refuses to bring anyone else into the situation. To be proactive, I have asked his father to be the new co-signer on the car loan, but he has not done anything either. I have considered selling it, but he is upside down in the car loan (the car is worth $20K, but the loan balance is $30K).
What are my options at this point? Can I take legal action?