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  1. #1
    Join Date
    Jul 2006
    Posts
    1

    Default Breach of Settlement

    Greetings,
    Before my fiance got divorsed from her husband almost a year ago she (stupidly) co-signed his car loan. In their settlement it specified that in the event of a default (including a missed payment) he is required to take whatever steps nessasary to remove her from the loan to avoid her credit being damaged.

    Today, she recieved a certified letter from the bank saying that the car had been repocessed. She never recieved so much as an email or a letter regarding this. She wants to know what her options are legally at this point. Can she sue him for breach of settlement? What can she ask for damage wise?

    This is in Delaware btw

    Thanks

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Breach of Settlement

    She can pursue whatever remedies were provided in her divorce judgment.

    She should contact the bank to see if they will take her situation into consideration and not put the repossession on her credit report.

    There is a good chance the bank or its collection agency will be attempting to collect the additional sums owed on the car loan, beyond whatever the car sells for at auction. They can collect that from either or both of the borrowers.

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