Loan Agreement

[JemSkate]

What is the name of your state? CA
On 12/7/2001 My now ex bf and I entered into a loan agreement for a car. He was unable to qualify due to bankruptcy. I put the loan in my name with his name as a co-signer. He agreed to make the payments and in a year he would re-fi and get the loan in his name (if possible). We have since broken up and my name remains on the loan. Now, he has missed payments. I understand what i did was stupid but, now I need to know what I can do to protect my credit. Can I take the car? Can I sell it? Can I somehow convince him to re-fi? Any help and advice would be great! thanks.

 

[Ladynred]

How is the car titled ? Is your name on it at all or just his ?

If you're not on the Title.. you can't take it and sell it. If you are on the title, you may be able to 'repo' it and sell it.

Convince him to re-fi ? That depends on how convincing you can be. I'd threaten him with a lawsuit .. he can't file BK again..

 

[JemSkate]

Reply to Loan

I am on the title. Thanks for the advice. Apparently I am not that covincing since he hasnt refi'd yet. I will threaten him with legal action, lawsuit.
Thanks