Divorse and car loan

[nyer563]

My mother was married in Texas for 4 years. She cosigned a loan 7/97 for a car for her husband. She divorsed him in 2000. He stayed in Texas. She came to New York. He defalted on the loan in 2000 and kept the car. My mother is now getting calls from the collection agency to pay for the loan. Does anyone know if she would be responsible for that loan or if the statue of limitation is up?

 

[bbauer]

Both answers are probably true.

My mother was married in Texas for 4 years. She cosigned a loan 7/97 for a car for her husband. She divorsed him in 2000. He stayed in Texas. She came to New York. He defalted on the loan in 2000 and kept the car. My mother is now getting calls from the collection agency to pay for the loan. Does anyone know if she would be responsible for that loan or if the statue of limitation is up?

Firt of all, no judgment or decree of a divorce court will have any effect on the creditor. If both were co-signatories on the note then both are responsible for the note regardless of what was agreed to or decreed in a divorce court.

The statute of limitations in New York and in Texas are pretty close to the same. About 4 years. You can get that info by going to lawdog.com and they have the info for all states and it is pretty reliable. I'm pretty sure Texas is 4 years but I can't remember what it is for New York. I can' t possibly remember the SOL times for all 50 states so you will have to look it up.

This is 2005 so even if the SOL in New York were a little more than 4 years it should be out sometime this year. Also that would depend on when the delinquency first happened, in otherwords SOL would probably start a month after the last payment was made.

That might mean that she has a while to go before the SOL is up in either state. You didn't say when the last payment was made so all I could do was guess at the time when SOL might be up. You have to figure out the real date from the info I gave you.

 

[mike]

My mother was married in Texas for 4 years. She cosigned a loan 7/97 for a car for her husband. She divorsed him in 2000. He stayed in Texas. She came to New York. He defalted on the loan in 2000 and kept the car. My mother is now getting calls from the collection agency to pay for the loan. Does anyone know if she would be responsible for that loan or if the statue of limitation is up?

There is a problem. The statute of limitations may not apply here and I'm wondering whether there is a judgment. You have cosigned on a loan and therefore are liable the same way that he is. You need to know when the ex defaulted on the loan to begin to calculate the statute of limitaitons.