And the worse part....it's a Saturn! I need to have her refinance this or something. I am responsible for the loan. If I don't pay it, I have bad credit, and she gets to drive it. It is a joint loan, so legaly, she has as much right to drive it as I do. Tip to the guys out there: never do this.
2006-08-22 14:56:27 · 9 answers · asked by DJ Jazzy Bustos 2 in Cars & Transportation ➔ Buying & Selling
Are you a "co-signer" or a "co-buyer" ? If your name is on the title & registration then you are a "co-buyer"
This could make a difference in the assets & liabilities portion of your divorce.
In either case you need to talk to your divorce lawyer about making it part of the divorce decree, it is a major liability to you & can only hurt your credit.
Assets AND liabilities should be COMMUNITY PROPERTY, & dealt with as such.
note to you: your "tip to guys" also applies to the many "gals" who are also co-signing for their 'less than perfect credit' husbands &/or soon to be ex's. It DOES go both ways.
2006-08-23 02:53:27 · answer #1 · answered by Vicky 7 · 2⤊ 0⤋
the only way a tax refund verify could be deposited right into a checking account is that if the two one among your names are on the checking account !! Now what you're able to do is bypass to the financial employer and take each and all of the money which you would be able to via fact your call is on the account !! As for any criminal strikes which you would be able to take... NONE !! The checking account is seen a joint account. and you may no longer close that account except you are the time-honored account holder. stable success !!
2016-11-05 10:20:49 · answer #2 · answered by pachter 4 · 0⤊ 0⤋
Actually YOU don't have a legal right to drive it even though you are the co-signer.It's her car not yours you merely agreed to pay for it if she doesn't.
Been there done that,there's not a DAMN Thing you can do.I tried to take a car that I co-signed on cause they faulted and I had to take up the payments,Guess What?I was arrested for taking the car.co-signing gives you NO RIGHTS to the property.
2006-08-22 15:09:22 · answer #3 · answered by jgmafb 5 · 1⤊ 0⤋
First lesson, never buy a Saturn, and never accept negative equity on a Saturn either. Oh brother!
You can't get out of it. You are stuck. Good luck buddy.
2006-08-22 15:02:42 · answer #4 · answered by miketorse 5 · 0⤊ 0⤋
You're in trouble. Both of you have to go to the bank and put the vehicle in her name only. She may need a co-signer and this may complicate things as well!
2006-08-22 15:03:11 · answer #5 · answered by Sal G 4 · 0⤊ 0⤋
sign on the dotted line and your soul is mine...the only way out is to pay [that's why they call it a CO-SIGNER] you could file for independent bankruptcy and kiss the rest of your credit rating goodbye.
2006-08-22 15:12:18 · answer #6 · answered by hobbabob 6 · 0⤊ 0⤋
Yep, you answered your own question. She needs to refinance in her name only. then you might be off the hook afterwards. Not by much, but maybe.
2006-08-22 14:58:40 · answer #7 · answered by Silverstang 7 · 0⤊ 0⤋
Thanks for your advice, I get what you mean.... Yeah, re-sell or re-finance it will get you out.
2006-08-22 15:02:26 · answer #8 · answered by seb 4 · 0⤊ 0⤋
Suckerrrrrrrrr............................
2006-08-22 15:20:06 · answer #9 · answered by Terry S 5 · 0⤊ 0⤋