Loan Issues w/ Ex.

[simtimpson]

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

My Ex and I were recently divorced. We share financial responsibility (50/50) for a personal bank loan taken out in my name only. The divorce decree states this 50/50 responsibility.

We also had purchased a car. The vehicle loan IS in both of our names but the car was awarded to me in the divorce.

I owe less on the car than the shared total on the personal loan.

My Ex is demanding that I remove them from the car loan because the car is "mine" (and I've been making sole payments on it for months now). They want this in order to free up their debt/income ratio. However, we owe more on the personal loan that they are NOT attached to on any credit reporting (only through the divorce decree). If I remove them from the car then both the personal loan and car loan are reported ONLY under my debt to income ratio.

My Ex is now refusing to pay me their half of the personal bank loan until I remove them from the car loan.

I refused, siting the above mentioned dump-age of debt to income ratio solely under my name when technically (per the judge signed decree) they share responsibility on the personal bank loan.

What are my legal options/obligations here?

***I can't add them to the personal bank loan. The personal loan is only able to be under 1 person. I checked. I also suggested they get their own personal loan to buy out the shared personal bank loan and then I would remove them from the car. However, their credit is bad right now so would likely be unable to do that.

 

[ecmst12]

Who is "we"?

If you were not ordered to refinance ex off the car loan in the divorce, you don't have to. Ex WAS ordered to pay half the other loan, so if he/she does not pay as ordered, file for contempt.

Realize that if you do this, the judge MIGHT just order you to refinance ex off the car loan at the same time he rules on the contempt.

 

[Ohiogal]

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

My Ex and I were recently divorced. We share financial responsibility (50/50) for a personal bank loan taken out in my name only. The divorce decree states this 50/50 responsibility.

We also had purchased a car. The vehicle loan IS in both of our names but the car was awarded to me in the divorce.

I owe less on the car than the shared total on the personal loan.

My Ex is demanding that I remove them from the car loan because the car is "mine" (and I've been making sole payments on it for months now). They want this in order to free up their debt/income ratio. However, we owe more on the personal loan that they are NOT attached to on any credit reporting (only through the divorce decree). If I remove them from the car then both the personal loan and car loan are reported ONLY under my debt to income ratio.

My Ex is now refusing to pay me their half of the personal bank loan until I remove them from the car loan.

I refused, siting the above mentioned dump-age of debt to income ratio solely under my name when technically (per the judge signed decree) they share responsibility on the personal bank loan.

What are my legal options/obligations here?

***I can't add them to the personal bank loan. The personal loan is only able to be under 1 person. I checked. I also suggested they get their own personal loan to buy out the shared personal bank loan and then I would remove them from the car. However, their credit is bad right now so would likely be unable to do that.

Is there any wording in your decree regarding holding your ex harmless and indemnifying him against harm from the car for which you are responsible? If so, YOU WILL be forced to refinance it. He shouldn't withhold payments however. What he should do is take you to court for a motion to show cause.

 

[Ohiogal]

Who is "we"?

If you were not ordered to refinance ex off the car loan in the divorce, you don't have to. Ex WAS ordered to pay half the other loan, so if he/she does not pay as ordered, file for contempt.

Realize that if you do this, the judge MIGHT just order you to refinance ex off the car loan at the same time he rules on the contempt.

Without knowing the exact wording of the decree, you cannot say she doesn't have to refinance. While she may not have been directly ordered to refinance, if she was order to make sure he was held harmless/indemnified, she may have to refinance in order to insure that that happens.