Getting a name off a car loan

[Graphic]

Is there a way to get my name off of a car loan? I am the main person on it I would imagine.. long story but anyways I don't really want my name on it anymore. I don't pay for it. Some of you might remember it is for my ex... but I'd rather be the nice guy if I could and just get it off my name with no problems lol. I mean sure it helps my credit cause she never misses.. I just don't know if there is a way to do that without refinancing or something.

[Jenn]

I think she would have to refinance by herself to get you off. I really dont think there is any other way to do it, but, if she always pays on time, have her look around, she might get a better interest rate in the long run. Good Luck!

[Minnymouth]

If your name is on the loan is it on the vehicle also????
Tell you ex you want her to refinance it and get it in her name!!

If the car is in your name (title) tell her "thanks" for paying for "my car" - NOW I'm going to sell it - do you want to buy it and put it in your name?

Were you claiming BK, and going to include the car?

[Graphic]

I haven't filed bk yet. I still don't know if I am going to. The title is in both names.. which kind of sucks.. because I did think of doing that before lol. I just don't want ot have to be there to refinance it, which I'm assuming i would if the title is in my name and the loan basically. She's the co-applicant but she never had any credit so..

[Minnymouth]

Ok,
Since both your names are on the title and you want off............ IF you file bankruptcy and surrender the auto then she'll be forced to refinance it and put it in her name only if she wants to keep it.....
Really works to your advantage...... she'll have no choice or loose vehicle.......and all her payments.
You are under no obligation to reaffirm for her benefit so she can have a auto (UNLESS you just want to be a nice guy for your EX) - duh!!.
You can surrender the auto in bankruptcy and be out from under the debt. You are the basic carrier on the loan, so if you surrender, she has to agree to pay the loan or loose the auto............ Sorry about her luck, huh!!!

Let me know what you do, I'm curious!!!

[SinkingFast]

But if he declares it in BK, with his name on the title, that makes him a co-owner.

Won't he get tagged for half the value of the equity of the vehicle toward his assets and exemptions??

Wonder if this could work,.......... Draw up a document declaring that she has accrued her half of the vehicle's value by maintaining the payments. List the $/month for however many months she has paid the payments. That you consider this to be fair payment in lieu of your interest in the value of the vehicle. Then get yourself removed from the title. She'll have to refinance to keep the car, but that way you aren't selling the car for any amount of money the Court could come looking for.

It might work??!!

[Minnymouth]

Since they are both on the title, he can only surrender his portion of the debt..... (if the loan is in his name only then he is surrendering the whole debt to bankruptcy and the Trustee takes the vehicle. The Trustee would have to take his spouse to court to relinquish her interest in the vehicle). Bankruptcy will dissolve his portion of the debt owed too the car dealer and if his spouse want to keep the vehicle she would have to pay the equity to the court.....
Even though it is a joint asset on the title, they are divorced, so basically the vehicle is really his and shes on the title and she pays for it. But the Court will see it as his asset.............including the loan being his.

[lostsoul23]

Graphic, I would contact the place who holds the loan on the car. Some places, like the one I work for, offer certain methods designed just for cases like this.