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    Kiranis's Avatar
    Kiranis Posts: 1, Reputation: 1
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    #1

    Feb 12, 2012, 11:08 AM
    I'm co-signed on a vehicle and I'm making the payments, but it's not in my name.
    I am a co-signer on a vehicle that's not in my name, but I make the payments. What can I do to get out of this? My psycho ex wants to take the car and all my money, I couldn't care less about the car but she wants to take everything I have based on the fact I'm co-signed. Let it be noted, she was the cause I was put into the psychiatric ward.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #2

    Feb 12, 2012, 03:40 PM
    How does she expect to take "all" your money?

    If you (or your ex) fails to make the payments, the creditor can come after you (sue you). That's what co-signing means.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Feb 12, 2012, 04:17 PM
    So you let the bank take the car, they may still sue you but at least he won't have the car.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #4

    Feb 12, 2012, 04:27 PM
    First, you put yourself in this position by agreeing to co-sign the loan. So, you know have two choices. First, you can stop paying and let them sue you both for payments and repo the car. This will affect your credit rating. Second, you file suit against your ex to recover what you have paid and/or take possession of the car.

    I'm also unsure of how you think she can take anything of yours. She doesn't get the car payments and she is not entitled to anything else, because you co-signed the loan. Your choices are as I've outlined them.

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