protect myself

[almost done]

What is the name of your state? ny

My STBX was awarded exclusive use of the marital vehicle over two years ago, she acquired a different vehicle at the end of last year and literally abandoned the marital vehicle in the street in front of the house. before doing so, she literally trashed the vehicle, the seats are half out of it, it is loaded with garbage, and full of filth.

I still have a lien on the vehicle, but blue book is slightly ($1000)
higher than what the lien is for. it will likely cost me roughly $500 to make it mechanically sound and able to pass a state inspection. Possibly more to make it saleable.

Today, the STBX told me that she doesnt want it anymore and i can take it back from her, which leaves me with a few questions.

1) if i were to take the vehicle back, what type of documentation would i need so that she cannot come back and say that i stole it or something else along those lines

2) from an unbiased approach, should i just let the vehicle get voluntarily repossesed by the bank and cut my losses?

3) would she held liable for the damages that were sustained to the vehicle while she had exclusive use of it?

 

[LdiJ]

What is the name of your state? ny

My STBX was awarded exclusive use of the marital vehicle over two years ago, she acquired a different vehicle at the end of last year and literally abandoned the marital vehicle in the street in front of the house. before doing so, she literally trashed the vehicle, the seats are half out of it, it is loaded with garbage, and full of filth.

I still have a lien on the vehicle, but blue book is slightly ($1000)
higher than what the lien is for. it will likely cost me roughly $500 to make it mechanically sound and able to pass a state inspection. Possibly more to make it saleable.

Today, the STBX told me that she doesnt want it anymore and i can take it back from her, which leaves me with a few questions.

1) if i were to take the vehicle back, what type of documentation would i need so that she cannot come back and say that i stole it or something else along those lines

2) from an unbiased approach, should i just let the vehicle get voluntarily repossesed by the bank and cut my losses?

3) would she held liable for the damages that were sustained to the vehicle while she had exclusive use of it?

Dude...you cannot seriously be considering allowing a repo to wreck your credit when there is less than 1000.00 due on the loan? That would be crazy! Pay it off and junk it...or fix it and sell it, but don't let your credit get wrecked.

By all means address the issue of the car in your divorce...but don't allow your credit to get wrecked over it.

 

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Dude...you cannot seriously be considering allowing a repo to wreck your credit when there is less than 1000.00 due on the loan? That would be crazy! Pay it off and junk it...or fix it and sell it, but don't let your credit get wrecked..

perhaps i didnt clarify things very well, i owe more than $1000 on the vehicle i actually owe closer to $5K, there is essentially $1K in equity in the vehicle.

Due to other variables too lengthy to mention here, my credit is already in the toilet because of this whole mess.

i could essentially fix it and sell it, but i would end up making around $500 if lucky, which would not further destroy my credit, but am not sure if its worth the time it would take to get it in order.

By all means address the issue of the car in your divorce...but don't allow your credit to get wrecked over it.

Address it how?


How would i go about protecting myself to get the vehicle? should i attempt to get her to sign something releasing the vehicle to me? should i contact her attorney (through mine) and get permission/release?

 

[LdiJ]

perhaps i didnt clarify things very well, i owe more than $1000 on the vehicle i actually owe closer to $5K, there is essentially $1K in equity in the vehicle.

Due to other variables too lengthy to mention here, my credit is already in the toilet because of this whole mess.

i could essentially fix it and sell it, but i would end up making around $500 if lucky, which would not further destroy my credit, but am not sure if its worth the time it would take to get it in order.

If you really owe 5k on the car and your credit is already truly in the toilet then letting it get repo'd might be the better choice....however you better plan for that to be part of a bankruptcy.

However, home forclosures or car repo's are truly the "kiss of death" for your credit rating.
If you can avoid those two things, your credit is far more fixable, faster, than with other debts. If you can fix it well enough to at least cover the loan value, I would personally do that.

Address it how?


How would i go about protecting myself to get the vehicle? should i attempt to get her to sign something releasing the vehicle to me? should i contact her attorney (through mine) and get permission/release?

If she was supposed to have possession of the car, and responsibility for making the payments, then you can certainly try to get that taken into consideration in the overall property settlement....assuming that you have any further assets to divide.

I don't think that you need to get too caught up in getting permission/authorization regarding the car. She has abandoned it...and you need to do SOMETHING to protect your credit. All you really need to do is keep good documentation of whatever you do. If you are both on the title she is going to have to sign off on anything that you do anyway, therefore she won't be able to "gripe".

 

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If she was supposed to have possession of the car, and responsibility for making the payments, then you can certainly try to get that taken into consideration in the overall property settlement....assuming that you have any further assets to divide.

She got exclusive possession, but i was to make the payments, which i did.

If you are both on the title she is going to have to sign off on anything that you do anyway, therefore she won't be able to "gripe".

She is not on the title, only myself


I just figured that if i didnt get the "permission" she could essentially turn around and say that i took it from her.


Thank you for your advice

 

[LdiJ]

She got exclusive possession, but i was to make the payments, which i did.



She is not on the title, only myself


I just figured that if i didnt get the "permission" she could essentially turn around and say that i took it from her.


Thank you for your advice

I still wouldn't worry about that...she has essentially abandoned the car and you have the right to do whatever is necessary to protect your credit.