Cross collateralization

[hardballcoaster]

Jurisdiction

Indiana

cross collateralization is a new word to me. here is my question. I went through a divorce .we had two loans at a credit union. 1 loan for a Harley Davidson motorcycle other loan for a car. I kept the motorcycle and paid it off. she got the car and didn't pay it off and let it go back. just the other day the repo man showed up at my house wanting the motorcycle and I wouldn't give it to him. I called the credit union and they said that the bike was collateral for any and all loans even though it was paid off they have repossession orders for it. I read over the loan paperwork and it says "collateral securing other loans with us may also secure outstanding balance of this loan". I paid the Harley off a year ago. I do believe I'm in the doghouse over this. is there anyway I can fight this or do I have to let the bike go the Credit Union.

 

[army judge]

Credit unions often cross collaterize their loans.
Not much wiggle room for you, OP.
You could take your former wife back to court before your divorce judge and see if there's any benefit to be derived in that activity.
She's a deadbeat, and likely has no assets that could benefit you.
The good news, she's out of your life for ever.
Good luck.