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You signed on a car loan 6 years ago, and just now being repossessed?
If the ex is truly an ex and not a 'significant other' if he/she got the car in a divorce, there should be a 'responsible for the debt' clause in the divorce. Get that to the lender with a demand letter from a lawyer that you be released from the note.
The problem is that this doesn't work. Even if there was a divorce, and even if it allocated the legal rights and obligations of the parties to each other, nothing that could happen in the divorce could have any bearing on their legal obligations to a third party such as the lender.
Have you worked with a mortgage broker instead of a bank? They are MUCH more creative than banks when it comes to mortgages, and you will usually pay thousands less. They'll figure out how to get you approved because the lenders pay them to make the loan go through. Check out Zillow Mortgage, it's full of brokers who are required to give you the rates and terms they quote on Zillow (obviously if your credit isn't great the terms won't be great).
About the repossession, you are actually within your rights to sue the ex-girlfriend for all damages arising from her failure to pay the note on the car. You probably won't be able to collect, but maybe she'll start playing nice when she realizes that the thousands of dollars that she thought she was walking away from will still be owed. You could also just pay it and then sue her, but then you risk losing the money if she defaults on the judgment after you win in court.
Quote:
Originally Posted by willc86
try another bank to approve me? I was hoping the bank can see that I paid off a lexus in full within 4 months. Paid off an atv (10,000) in 5 months. and have only have student loans (which I will be paying $15,000 in december out of $30,000) I mean, if a bank can see I did all of this in a year, and saw my cosign issue years ago when I was young and didnt know better, maybe I would get a chance with another lender.
Unfortunately the banks won't care that you paid off a lexus in four months or an ATV- it would actually help your credit if you instead made the payments on the loan instead of paying the loans off. My parents paid off a mortgage on a >$1 million home and their credit score dropped precipitously since the average age of their open accounts fell off a cliff in so doing.
Have you worked with a mortgage broker instead of a bank? They are MUCH more creative than banks when it comes to mortgages, and you will usually pay thousands less. They'll figure out how to get you approved because the lenders pay them to make the loan go through. Check out Zillow Mortgage, it's full of brokers who are required to give you the rates and terms they quote on Zillow (obviously if your credit isn't great the terms won't be great).
About the repossession, you are actually within your rights to sue the ex-girlfriend for all damages arising from her failure to pay the note on the car. You probably won't be able to collect, but maybe she'll start playing nice when she realizes that the thousands of dollars that she thought she was walking away from will still be owed. You could also just pay it and then sue her, but then you risk losing the money if she defaults on the judgment after you win in court.
Unfortunately the banks won't care that you paid off a lexus in four months or an ATV- it would actually help your credit if you instead made the payments on the loan instead of paying the loans off. My parents paid off a mortgage on a >$1 million home and their credit score dropped precipitously since the average age of their open accounts fell off a cliff in so doing.
thanks....seems like this worked vs everyone else. i got approved thank you
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thank you
