What is the name of your state?Texas
I was married in May 2003 and divorced in June 2004. During my marriage my husband and I bought a motorcycle for which I was the cosigner. In our divorce agreement it stated that he was to assume all claim to the motorcycle and would be responsible for all "indebtedness" with it as well. He was suppose to get the bike taken out of my name, however he did not. Sometime between June 2004 and January 2005 the bike was stolen and there was only liability insurance on it. I was under the impression that the motorcycle was no longer my problem, however yesterday I recieved notices that my exhusband had stopped making payments on the bike in Jaunuary 2005 and the finance company is now demanding payment of $5,528.43 within the next 15 days. If not, they will send it to a collection agency. The finance company doesn't care what the divorce agreement says as far as the loan is concerned. In an email corresponse with my exhusbands new wife, through his email address, she basically told me that they didn't have the money and were no longer able or willing to make anymore payments whatsoever in this matter. Now, he already had bad credit and doesn't care if his credit gets ruined a little more. My credit was, until now, in good standing, and I had worked very hard to get it and keep it that way. This is now causing me problems and I need to know what legal course of action I can take. I know the limit for small claims court is $5,000 but can I take him to court to get that amount and just pay the remaining $528.43 myself? If I can't go through small claims court, what can I do? I don't exactly have the money to pay this off (and its not my responsibility to) but I don't exactly have the money for a lawyer either?
HELP
Thanks
I was married in May 2003 and divorced in June 2004. During my marriage my husband and I bought a motorcycle for which I was the cosigner. In our divorce agreement it stated that he was to assume all claim to the motorcycle and would be responsible for all "indebtedness" with it as well. He was suppose to get the bike taken out of my name, however he did not. Sometime between June 2004 and January 2005 the bike was stolen and there was only liability insurance on it. I was under the impression that the motorcycle was no longer my problem, however yesterday I recieved notices that my exhusband had stopped making payments on the bike in Jaunuary 2005 and the finance company is now demanding payment of $5,528.43 within the next 15 days. If not, they will send it to a collection agency. The finance company doesn't care what the divorce agreement says as far as the loan is concerned. In an email corresponse with my exhusbands new wife, through his email address, she basically told me that they didn't have the money and were no longer able or willing to make anymore payments whatsoever in this matter. Now, he already had bad credit and doesn't care if his credit gets ruined a little more. My credit was, until now, in good standing, and I had worked very hard to get it and keep it that way. This is now causing me problems and I need to know what legal course of action I can take. I know the limit for small claims court is $5,000 but can I take him to court to get that amount and just pay the remaining $528.43 myself? If I can't go through small claims court, what can I do? I don't exactly have the money to pay this off (and its not my responsibility to) but I don't exactly have the money for a lawyer either?
HELP
Thanks