It was suppose to be my car but my dad is using it doesn't look like he wants to give it back.He is the owner of the car because being 19 I'm just establishing credit and he decided to help me out.It is going to be a lost because I put 8,000 down from saving bonds my grandfather left me.I still have $7,000 balance on the car.He doesn't pay the car note on time which is messing up my credit that is why I want to find a car myself and try to remove my name
2007-11-09 06:35:41 · 18 answers · asked by Anonymous in Business & Finance ➔ Credit
The other peson has to get a loan by themselves, otherwise you can not remove your name.
2007-11-09 06:37:42 · answer #1 · answered by teri 3 · 0⤊ 0⤋
Talk to the loan department of the dealership about your options, or whatever company you got the loan from. If they don't help, I would suggest getting a lawyer to explore your legal options. Being 19 years old, messed up credit will kill you for life.
From now on, I would say it's probably wise that whenever you are going into something with someone else, make sure that you have a written contract that you can fall back on. If you had had that in this case, it would have been quite possible to take him to court over the fact that you've apparently spent all of the money on a car that was supposed to be yours, but isn't.
Right now I think it would be more important to recoup your losses and get your credit back on track then to just get out of the situation
2007-11-09 06:45:13 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You're screwed. The judge should have ordered the truck sold as part of the divorce. You cannot have yourself removed since you are an equal owner in both the truck and the responsibility by signing on the loan in the first place. The lender has all the legal rights in the world to come after you because that is what you agreed to by signing the contract for the truck in the first place. You need to contact an attorney that will take you both back to court to order him to sell the truck and pay off the lender plus all late fees. As far as the late payments that are already there your credit is also screwed for the next 7 years. If he declares bankruptcy that truck cannot be included because it is a joint loan. Unless you file with him he and you will still owe on that truck. Never co-sign anything with anyone.
2016-04-03 04:09:35 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If I were you, I would go to the Bank or credit Lender Your dad is supposed to be making the payments to, and tell them you situation, they can point you in the right direction. You may have to get a lawyer and that can be messy and expensive, and if you can't help on the payment then I think the owner of the car has to have another way to have the car paid for.
I am SO sorry to hear that, I went through something similar!
2007-11-09 06:44:17 · answer #4 · answered by Ms_Hollywood_Hairdresser 2 · 0⤊ 0⤋
If I read this right, your father co signed for you. If that is correct, he is messing up his credit.
Who's name was the car registered in?
Did you fail to keep payments up? (I only ask this as that is how parents usually get custody of the car).
Two more things for you and every one else reading this, never ever co-sign, and for $ 7,000.00 you could have gotten a decent car and insurance. Don't get car fever and buy more than you can afford.
Had you done this then you would be driving your own car.
Sorry I do not know how to help you but others may learn from this.
Good luck.
Hope we don't see you on Judge Judy.
Judge Judy rules
2007-11-09 06:44:41 · answer #5 · answered by caffine jag 4 · 0⤊ 0⤋
You should contact the loan company and follow up with a written request. Don't be surprised if they refuse to remove your name from the loan. If you have truly kept up your end of the deal, shame on your dad. Hopefully, you've learned a valuable lesson with this experience. Co-signing has the potential to turn sour quickly.
2007-11-09 06:46:50 · answer #6 · answered by Suzy 5 · 0⤊ 0⤋
You will not only have get your name off of the title but also off of the loan. Call the company that financed the car and ask how you can do that.
2007-11-09 07:00:55 · answer #7 · answered by ♥♥The Queen Has Spoken♥♥ 7 · 0⤊ 0⤋
you can not remove your name, the primary will have to refinance the car in their own name... The loan that you co-signed for will still be on your credit report though.
2007-11-09 10:15:44 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Your dad needs either to sign the car over to you so you can make the payments individually, or sign over your share to him. You need to contact the loan company to find out what you can do. You will need his cooperation in either event.
Since he is using the car, and doesn't seem willing to cooperate, you need to contact the loan company.
2007-11-09 07:49:05 · answer #9 · answered by Steveo 5 · 0⤊ 0⤋
Your dad will have to go get a loan for the car, and purchase it from you so they will take your name off.
2007-11-09 06:39:35 · answer #10 · answered by Tommy's_Sweet_Girl 5 · 0⤊ 0⤋