Need some input

[alreadybroke]

Im new here, so far this seems like a great place for information. I am considering BK but am playing the waiting game until i get a couple questions answered. Maybe you guys can help with this one.

I just got divorced last month and my ex is on the loan to my truck. I currently have 2 other car notes both of which she is NOT on. I am for sure letting the 2 go but would REALLY like to let all 3 go. Is there any way at all to let the truck go (with the ex's name on the loan)?? I was told by a lawyer that if i let them take the truck she will deff sue me for the amount that would be in default b/c in the divorce it states that im keeping the truck.

Any help with this would be much appreciated!

[alreadybroke]

Anyone been in this situation?

[shabam]

That is tricky. If the ex's name is on the loan, would it not be her truck?

Now, if she can sue you and all that, it would probably be cheaper just to keep the truck and reaffirm it. Is it part of any divorce decree that you have to pay for her truck?

[Chowder]

I just got divorced last month and my ex is on the loan to my truck.

As in co-signer, co-owner, or sole owner.

[DebtEnder]

With BK as far as the bank is concerned they can't do anything to you about the truck but take it back. However if they ex signed off as a co-signer on the loan they will go after her for any balance owed.

She could then come after you(depending on the divorce decree) for whatever the bank got from her.

[alreadybroke]

That is tricky. If the ex's name is on the loan, would it not be her truck?

Now, if she can sue you and all that, it would probably be cheaper just to keep the truck and reaffirm it. Is it part of any divorce decree that you have to pay for her truck?

No its not her truck, i paid for everything I am the primary on the loan, we just put her on there to help her credit. So now that ive paid for all of her crap and im broke, im still stuck with this truck apparently.

And as far as the divorce decree, we just went through and made a list of stuff we each were going to keep and be responsible for. So if i default on this loan she will most likely end up suing me for the amount.

Is there any way around this at all? I was thinking about trading in the truck, then a month later filing and letting them take the new vehicle. Bad idea? I would REALLY just like to figure out a way to release her from the loan or something like that....

[OhioFiler]

No its not her truck, i paid for everything I am the primary on the loan, we just put her on there to help her credit. So now that ive paid for all of her crap and im broke, im still stuck with this truck apparently.

And as far as the divorce decree, we just went through and made a list of stuff we each were going to keep and be responsible for. So if i default on this loan she will most likely end up suing me for the amount.

Is there any way around this at all? I was thinking about trading in the truck, then a month later filing and letting them take the new vehicle. Bad idea? I would REALLY just like to figure out a way to release her from the loan or something like that....

This would work.

Can you refinance the truck through a CU? That would eliminate the need to trade in and buy new.

[aces67]

This would work.

Can you refinance the truck through a CU? That would eliminate the need to trade in and buy new.

That probably would work. How much is left owing on the truck?

[aljohnson007]

If she is on the title, you will also need to get a release from her to trade or refinance.

[alreadybroke]

That probably would work. How much is left owing on the truck?

Well it wouldnt make sense to re-finance in my situation b/c i currently have 0% and that would just make my payment higher

I still owe 30k on the truck too

[alreadybroke]

I was thinking about trading in the truck, then a month later filing and letting them take the new vehicle. Bad idea?







So is this the best plan? Is there a certain amount of months i would have to wait before filing after getting the new vehicle?

thanks

[aces67]

Ask your lawyer. My cousin filed BK and her lawyer advised her to buy a new vehicle and then file. She bought a brand new Pathfinder and then filed 45 days later.