- Jurisdiction
- North Carolina
This is a rare case where I am, in fact, asking for a friend (a co-worker).
My co-worker was dating an individual and co-signed on a car loan. The two broke up 4 years ago and haven't spoken since. My co-worker kept the vehicle and has continued making car payments for the last 4 years but now needs to sell the car. Apparently, the break-up was fairly acrimonious and 4 years later my co-worker's ex will still not speak to him or communicate with him regarding the car. Presumably, once the car loan is paid off, the title will be sent to my co-worker with two names on it--his and the name of his ex.
From what I understand, one cannot sell a car without both individuals on title agreeing to the sale with their signature. Is that correct? Are there any remedies for a situation where a person is AWOL and purposely avoiding contact with a co-signer on a loan or on title? Can he post some public notice or something in the newspaper? Worst case, if my co-worker has to walk away from the loan, does he have any remedies with the credit bureaus to avoid a catastrophic hit? Thank you.
My co-worker was dating an individual and co-signed on a car loan. The two broke up 4 years ago and haven't spoken since. My co-worker kept the vehicle and has continued making car payments for the last 4 years but now needs to sell the car. Apparently, the break-up was fairly acrimonious and 4 years later my co-worker's ex will still not speak to him or communicate with him regarding the car. Presumably, once the car loan is paid off, the title will be sent to my co-worker with two names on it--his and the name of his ex.
From what I understand, one cannot sell a car without both individuals on title agreeing to the sale with their signature. Is that correct? Are there any remedies for a situation where a person is AWOL and purposely avoiding contact with a co-signer on a loan or on title? Can he post some public notice or something in the newspaper? Worst case, if my co-worker has to walk away from the loan, does he have any remedies with the credit bureaus to avoid a catastrophic hit? Thank you.