Possible to ammend divorce after it's final?

[megand10]

My divorce was final April 2011 in Wisconsin.

My ex-husband's vehicle loan is in my name. He makes all the payments on-time so that part doesn't damage my credit. However, I need a loan and having two car loans on my credit is negatively impacting the interest rate I can get. I've requested NUMEROUS times that he refinance his loan in his own name but he continuously says he doesn't think he can. He has not tried though. If I can't get a loan, I can't sell my house and I'm headed for financial ruin despite working so hard to build my credit. Even if I sell my house, the rental properties I'm looking at, also check credit reports and that will show almost $1000/month that I don't actually pay. It may end up looking like I can't afford a place. Do I have any legal way to make him get his own loan? The vehicle is registered in ONLY his name.

 

[justalayman]

what would you want to alter in your divorce to achieve some result that would help you? I would have to guess your divorce order did not demand he refi the vehicle or whatever it takes to remove the loan from your name. Would that be correct?

You say the vehicle is registered in only his name but in whose name is it titled? If both, does the title simply list both names or is there a conjunction such as "or" or "and" between the names?

 

[megand10]

what would you want to alter in your divorce to achieve some result that would help you? I would have to guess your divorce order did not demand he refi the vehicle or whatever it takes to remove the loan from your name. Would that be correct?

You say the vehicle is registered in only his name but in whose name is it titled? If both, does the title simply list both names or is there a conjunction such as "or" or "and" between the names?

I would have it written to have him required to refinance within 90 days...which was the suggestion from an attorney that I didn't listen to. So, no, nothing in the order to refinance. His truck is the thorn in my debt to income ratio. The loan is in my name, it is titled in his name.

 

[justalayman]

The loan is in my name, it is titled in his name.

So, there is no lien on the title? The loan must be a personal loan or something other than an auto loan, correct?

Even if I sell my house, the rental properties I'm looking at, also check credit reports and that will show almost $1000/month that I don't actually pay.

it doesn't actually matter if it looks like you pay the loan or not. What matters is you are liable for the loan so that even if a lender would accept your argument that you do not make the payments, the problem is; if ex stopped making the payments, you would be required to make them.

since there is nothing in the divorce and he is making payments as agreed, I suspect you would have no chance of altering the order, at least by force. If there is nothing you can offer your ex that would entice him to do anything about this, I do not see you getting rid of the debt load until the loan is paid.

Of course, you could pay the loan off yourself or more properly, purchase the loan from the bank. That way not only would this not be on your debt load, it would be an asset to your financial portfolio.

 

[LdiJ]

So, there is no lien on the title? The loan must be a personal loan or something other than an auto loan, correct?

it doesn't actually matter if it looks like you pay the loan or not. What matters is you are liable for the loan so that even if a lender would accept your argument that you do not make the payments, the problem is; if ex stopped making the payments, you would be required to make them.

since there is nothing in the divorce and he is making payments as agreed, I suspect you would have no chance of altering the order, at least by force. If there is nothing you can offer your ex that would entice him to do anything about this, I do not see you getting rid of the debt load until the loan is paid.

Of course, you could pay the loan off yourself or more properly, purchase the loan from the bank. That way not only would this not be on your debt load, it would be an asset to your financial portfolio.

In what alternate universe? All that would do is give the ex an incentive NOT to make his payments...forcing her to repo and still be stuck. On top of that, if she doesn't have the debt to income ratio to allow her to obtain credit while the loan is active, then its highly unlikely that she has the financial strength to purchase the loan in the first place.

OP, how much longer does the loan have to go before its paid off?

 

[justalayman]

In what alternate universe? All that would do is give the ex an incentive NOT to make his payments...forcing her to repo and still be stuck. On top of that, if she doesn't have the debt to income ratio to allow her to obtain credit while the loan is active, then its highly unlikely that she has the financial strength to purchase the loan in the first place.

OP, how much longer does the loan have to go before its paid off?

holding a note is not an asset to a financial portfolio? It surely isn't a liability since the OP would not owe anybody the money but is owed the money. That makes it an asset.

the ex is making the payments. All the OP is trying to do is remove the liability from her credit report and the only way to do that is for the loan to be paid off.

while it is possible she does not have the financial where with all to pay off the loan, just because her income to debt ration is out of the range for financing is not proof it is. She could have considerable assets available to her that she would rather not access. Her income to debt load is what is of concern, not her debt to asset ratio.

 

[Antigone*]

What part of final does the OP not understand.

It would be like hubby coming back after the divorce is final and saying to the judge, I want a do-over because I don't like writing that check every month.