how can we take him off the lease of her car without her? she will not take him off because she must need his name? she isn't paying the payment on time or sometimes not at all, help!
*dreading the ex*
2007-10-22 11:40:45 · 9 answers · asked by blakie 1 in Business & Finance ➔ Credit
by the way - she is NOT willing to refinance and helP!!!!!!!!!!
2007-10-22 12:35:12 · update #1
If he signed the paperwork, he is as responsible for the payments as she is. The agreement is with the lease company and not with the ex-wife. If the lease company's not getting paid from the ex-wife, you can bet they are not going to rush to remove the only person they may be able to collect from. Sorry.
2007-10-22 11:47:28 · answer #1 · answered by Angie 6 · 0⤊ 0⤋
The problem is that he has co liability with her, and there is no way to take him off of the lease agreement. Since he was a co signer instead of signing as an accomodation party, he can only get compensatory damages up to half of what he had to pay off for her.
2007-10-22 11:49:30 · answer #2 · answered by ajfrederick9867 4 · 0⤊ 0⤋
She would need to refinance and get approved on her own. The loan was issued based on both parties agreeing to pay. There is no way you can just take him off. You can't even remove someone's name from a checking account without closing the account anymore (one exception...death of an account holder).
2007-10-22 12:14:33 · answer #3 · answered by Anonymous · 0⤊ 0⤋
He's pretty much cooked. Until the car is paid in full or refinanced, he's liable for payments she doesn't make. That's what co-signing is...you're saying, "If he doesn't pay the loan, I will." Paying the car off may be your best option, although I'd hate to pay off my ex's debt.
2007-10-23 03:26:57 · answer #4 · answered by Debdeb 7 · 0⤊ 0⤋
Here's the #1 reason why not to co-sign.
If she doesn't make the payments take it to court and have him take the car completely. Sell the car and pay it off. Or have her refinance with out his name.
Sounds like your best bet is option one.
2007-10-22 11:50:09 · answer #5 · answered by Anonymous · 0⤊ 0⤋
That's the downside of cosigning for someone, an ex or anyone else - you are stuck with being on the loan until it's paid off or refinanced, and are responsible for payments if the main person on the loan doesn't pay them.
Sorry, but he can't get out of it until it's paid.
2007-10-22 12:52:26 · answer #6 · answered by Judy 7 · 0⤊ 0⤋
He was a signer because she had already wrecked her own credit I doubt that the bank wants to try to make her float by herself. If he has his name on the title and kept a key go get the car and sell it before she lets the insurance drop and has a accident thereby making him libal for that also.
2016-05-24 20:13:25 · answer #7 · answered by ? 3 · 0⤊ 0⤋
Your husband may have to take a hit on his credit but he can just call the lender and tell them to come and get the car. If they reposess the car that will be the end of the loan.
2007-10-22 11:52:33 · answer #8 · answered by milton b 7 · 0⤊ 0⤋
Pay off the entire loan on the car. Problem solved.
2007-10-22 13:46:43 · answer #9 · answered by StephenWeinstein 7 · 0⤊ 1⤋