My now ex-husband & I co-signed on a vehicle in 2000. We are since divorced (2004), he had left for Ohio and took the car, therefore the car & loan responsibility was given to him in our divorce.
He defaulted on the loan, never paid a dime, the car was impounded due to unpaid tickets and then sent to salvage by the City of Columbus police.(about 7/05) The creditor has tried repossessing the car multiple times, every time I tell them the details, his whereabouts, etc. They have never stopped reporting on my credit report that it's late...they keep it updated every month.
Recently, he wanted to clean up his credit and was inquiring about the loan. Now they are in full force trying to collect for the debt...also have added about $4000 in fees & interest!!
He is thinking (and most likely will) of claiming Chapter 7 bankruptcy. Being the cosigner of this mess, I feel I will now be completely screwed and have no option but to pay for debt in a vehicle that was given to my ex, whom defaulted & got it impounded!
In the meantime I am trying to get a mortgage!!!
Any advice would be greatly appreciated as to what my rights are and what I can do.
Thanks!
B from Michigan

