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Three years ago my ex-wife and I bought a truck together. We were divorced at the time and living together.We soon after split up again. She was the primary and I was the co-sign on the loan. I made every payment on the truck and it was mine. When I came to Iraq in Feb. she immediatly went to my house with the police and took the truck from my son. She said it was hers and the police said because her name was on the title she could take it. She tried to sell it but found out we still owed much more than it was worth. She kept the truck parked and made no payments on it. It was then repoed. I just got a letter (as did she)saying that it was sold at auction and that we owe the finance co. $12,000. Who will they sue?? Will she be responsible for it?? Will they garnish our wages?? I live in Wisconsin when Im not in Iraq. Any opinions would be of great help.

3 Responses

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1. 

   MadMan

   Both of you are equally liable and they will sue both of you for their money. Sorry, but this is what happens when you co-sign.

   Now, you might have a case to sue her but you would need to see a lawyer.

   August 31, 2010 at 4:34 pm
2. 

   jlf

   If you were just a cosigner on the loan, the truck was never yours. Whose name was on the vehicle title and whose name(s) were on the loan as borrower(s)?

   August 31, 2010 at 5:12 pm
3. 

   Craig

   If both of you are responsible for the loan, then you both will be held accountable for paying off the remaining balance.

   August 31, 2010 at 5:59 pm

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