I am not sure if this is the correct forum, I apologize if so.
I currently am the primary buyer on a car loan with an ex. She is a co-signer on the car, but she really didn't have much credit at the time of course so I was the main one. For the most part she has been on time.. or at the least a few days late with her payment. There are about 25 payments left at about 400 a month. I think the payoff is around 9k or so.
Anyways I get a call today from the company and they are telling me she is 74 days late. Which of course shocked me. I don't really keep in touch with her often and it was a dumb mistake to begin with but she had been on time pretty much so I haven't worried too much. I haven't paid a single dime in payments because to begin with the car was going to be for her and she was going to pay for it.
However, now they are at the point where it's 74 days late and she is about 900 in back payments. I am trying to figure out what are my legal rights on this? Of course it's on me just as much as her even though I haven't seen the car in ages. What are my options?
I don't want them to reposess the car because it will obviously go under my credit. But how much right do I have to the car even though I haven't paid a dime on it? I told the lady at the loan company to call me before they made any final decision because if she can't pay for it I will try to find some way of paying it off.
Would it be best to just try and get my ex to sell it? Probably wouldn't get the full amount but I could at least get it down and she could just pay that off.. but I highly doubt she will want to do that. So I really don't know my options. I was going to talk to a lawyer in town but I figured I would ask on here before I did that because I don't have much time to go talk with one.
I just want to know what my best course of action is. For all I know she has the money and will pay it. But just in case and so it doesn't get repo'd what are my rights to it. I'm obviously the main buyer but with her paying everything on it I wasn't sure how that would work. We were never married or anything so just a dumb mistake with an ex.
ANy thoughts would be appreciated.
Thanks
I currently am the primary buyer on a car loan with an ex. She is a co-signer on the car, but she really didn't have much credit at the time of course so I was the main one. For the most part she has been on time.. or at the least a few days late with her payment. There are about 25 payments left at about 400 a month. I think the payoff is around 9k or so.
Anyways I get a call today from the company and they are telling me she is 74 days late. Which of course shocked me. I don't really keep in touch with her often and it was a dumb mistake to begin with but she had been on time pretty much so I haven't worried too much. I haven't paid a single dime in payments because to begin with the car was going to be for her and she was going to pay for it.
However, now they are at the point where it's 74 days late and she is about 900 in back payments. I am trying to figure out what are my legal rights on this? Of course it's on me just as much as her even though I haven't seen the car in ages. What are my options?
I don't want them to reposess the car because it will obviously go under my credit. But how much right do I have to the car even though I haven't paid a dime on it? I told the lady at the loan company to call me before they made any final decision because if she can't pay for it I will try to find some way of paying it off.
Would it be best to just try and get my ex to sell it? Probably wouldn't get the full amount but I could at least get it down and she could just pay that off.. but I highly doubt she will want to do that. So I really don't know my options. I was going to talk to a lawyer in town but I figured I would ask on here before I did that because I don't have much time to go talk with one.
I just want to know what my best course of action is. For all I know she has the money and will pay it. But just in case and so it doesn't get repo'd what are my rights to it. I'm obviously the main buyer but with her paying everything on it I wasn't sure how that would work. We were never married or anything so just a dumb mistake with an ex.
ANy thoughts would be appreciated.
Thanks
