Payments on a Repoed Car

[confuseddad_tx]

What is the name of your state (only U.S. law)? TX

In around April 2007 I cosigned a note on a car for my wife. About 2 months later she left me and took the car. I sent her enough in child support so that she could keep the car but after about 7 months she starting not making the payments and eventually it went inot repo stage. Our divorce was finalized in May 2008 and the papers state that she is responsible for the car. The finance company (GMAC) eventually sold the car and then sent me a statement saying that what the difference was between the loan and the price sold at auction and that I owed $13,000. I called them up and stated to them that my wife and I are divorced and that our divorce papers state that she is responsible for the car. They said that they received that page from our divorce from my ex and have it on file but they said since I co-signed on the note that I am just as repsonsible for the balance. Am I still obligated to pay the $13K (which I do not have) even though the papers say she is responsible for it.

[LdiJ]

Originally Posted by confuseddad_tx

What is the name of your state (only U.S. law)? TX

In around April 2007 I cosigned a note on a car for my wife. About 2 months later she left me and took the car. I sent her enough in child support so that she could keep the car but after about 7 months she starting not making the payments and eventually it went inot repo stage. Our divorce was finalized in May 2008 and the papers state that she is responsible for the car. The finance company (GMAC) eventually sold the car and then sent me a statement saying that what the difference was between the loan and the price sold at auction and that I owed $13,000. I called them up and stated to them that my wife and I are divorced and that our divorce papers state that she is responsible for the car. They said that they received that page from our divorce from my ex and have it on file but they said since I co-signed on the note that I am just as repsonsible for the balance. Am I still obligated to pay the $13K (which I do not have) even though the papers say she is responsible for it.

Yes, because the loan company is not a party to your divorce, and they (and you) are bound by the original loan contract.

You can however, take your ex to court and get a judgement against her for whatever amount of money you end up having to pay the loan company, but collecting may be difficult.

[confuseddad_tx]

Originally Posted by LdiJ

Yes, because the loan company is not a party to your divorce, and they (and you) are bound by the original loan contract.

You can however, take your ex to court and get a judgement against her for whatever amount of money you end up having to pay the loan company, but collecting may be difficult.

Thank you for your answer even though it looks like I am screwed all over the place because I do not have the money to pay them and as far as having her pay me the amount of money I end up paying the loan comapny... well let's just say that I would have an easier time giving birth to a 747.