jtthebrick Posted March 5, 2005 Report Share Posted March 5, 2005 I had co-signed on an auto loan with my Ex-wife while we were still married. After we divorced she took the car and the payments I suppose to the best of her abilities. Eventually the car was repossessed (at her address). The loan company went after her, billed her and I even helped them find her once to make collection arrangements. Now five years later I get this bill in the mail for $10,000.00 from a collection agency representing the loan company?I did have my ex-wife sign a letter I wrote stating she was taking over payments and taking sole possession of the car; that I have since learned is worth nothing in court unless noterized. The divorce papers can't help me either because they don't state she is taking over the car and/or payments.Being a person wanting to take care of buisness and an avid reader of your website, Thank you for this website by the way you are an 8) heaven sent. I contacted the collection agency. I asked them to verify they represented the loan company and I wanted them to forward the original contract and how much they made from reselling the car. They began to bumble and stumble. I negotiated the bill from $10,000.00 to $3,500.00 with very little to no effort. I had them fax me this in writting and they did set a time limit on the agreement.Then I smelled fear and desperation and Immediately thought wait a minute! Let me find out if I should pay them anything? Should I pay these sharks a dime? Can anyone help direct me here The sharks also said they cannot report anything to any of the Big Three Credit agnecies? So what recourse do they have? I also reviewed this account on all three of my credit reports with the origianl lender and it was listed as account closed refinanced? Is this ammo if they decide to take me to court? Date of last activity on my credit report was was 2/00, last payment was 05/03 and I didn't even have the car then? I know they sold the car from the repossession and made money off that to put toward what was owed.Ok what do I have to/or should I do?1. Pay the negotiated $3,500 via(Post Dated Check as requested by the collection agency, That's Illegal I know that much..Sharks)2.Suck it up and go to court? Ignore them? If so How do I stop the letters and phone calls? Ammo suggestions please Any help with my situation is VERY APPRECIATED! Link to comment Share on other sites More sharing options...
elyse449 Posted March 5, 2005 Report Share Posted March 5, 2005 Hi there,Sorry for what you're going through, I know how stressful car repo's can be. My thought is to FIRST check the statute of limitations in YOUR state...they waited 5 yrs to contact you about this bill? I'm not sure you have to pay ANYTHING, hense their fear (they don't want you to find out). Check that SOL and let us know what you find out...In the meantime, and in the future (not sure this'll help ya now or not) but NEVER, NEVER, NEVER agree to pay ANYTHING by phone. Let them make offers by mail ONLY. You may have restarted the SOL by agreeing on the phone...then again, unless they recorded you (and informed you of such PRIOR to recording--in other words, "For quality assurance this phone call may be recorded...") it's their word against yours.Elyse Link to comment Share on other sites More sharing options...
Chancy949 Posted March 5, 2005 Report Share Posted March 5, 2005 So you DV'd them? and they didn't send you anything? They have to PROVE you owe them. I would say you have a good defense.Why are you talking about court? Did they say they are going to sue you? Link to comment Share on other sites More sharing options...
Chancy949 Posted March 5, 2005 Report Share Posted March 5, 2005 Oh... not all companies report to the CBDH and I bought a car back in 97 and had it paid off in 2001. The company never reported to the CB. They said they don't to that. It cost them money to report, and I think they have to have a certain number of accounts to report.They may be just some local small town type place. If that is the case, they may need a lesson on the FDCPA. Link to comment Share on other sites More sharing options...
divemedic Posted March 5, 2005 Report Share Posted March 5, 2005 DV them, see when the last payment was made. I bet this is out of SOL. BTW- it doesn't matter in a divorce or whatever. The finance paperwork named you as part of the contract and no divorce court can alter that. To get yourself off that car loan, you would have had to refinance the loan. Link to comment Share on other sites More sharing options...
codename_fortyseven Posted March 6, 2005 Report Share Posted March 6, 2005 I wouldn't ignore them. I'd check the SOL for the state. I'd find out exactly when your wife defaulted on the loan and see if it is in the SOL. Check Lawdog.com for the state rules. I'd DV the CA as well to see if they have their stuff in order. It sounds like a JDB. I wonder why they can't report anything to the CRA's. It seems like they are fishing without a worm. I wouldn't pay anything until I had verifiable evidence that I actually owed them something. Don't chance restarting the SOL by agreeing to anything either. Just find out if you owe them anything first and go from there. Link to comment Share on other sites More sharing options...
elyse449 Posted March 7, 2005 Report Share Posted March 7, 2005 Ok, some of this may be a bit "doubled" but I've gotten some coffee in me so I kind of have an idea about how to attack this in a more "defined" way...lol.Start with sending them a request for validation along with the partial C&D...you need to see WHO made an alleged payment and for how much. When you discover that they waiting TOO long (plus you'll have some paperwork from them) go ahead and send the next letter stating the SOL has expired--perhaps along with another C&D. Once you get the signed green card back if they should contact you by phone AFTER that--go ahead and report them to the AG, BBB and the FTC. The websites all have forms for this and just let them know that hey, you requested they not contact you by phone and they continue to do so violating your right and harrassing you. You said, "Date of last activity on my credit report was was 2/00, last payment was 05/03 and I didn't even have the car then? I know they sold the car from the repossession and made money off that to put toward what was owed."Are you saying that the car was repo'd BEFORE 2003 and that they're claiming a payment was received in 2003? Apparently SOMEONE allegedly made a payment. You need to find out if that's true, who made the payment and for how much. It MAY have restarted the SOL, but then again they may be fudging on the paperwork--so ask for that validation. You said, "Ok what do I have to/or should I do? 1. Pay the negotiated $3,500 via- DO NOT PAY ANYTHING YET. Do not agree to pay those oxygen thieves anything yet. Request validation, partial cease and desist and then expiration of SOL.You said, 2.Suck it up and go to court? I would assume they'd at least have to take HER to court first. You're a co-signer, but she's the main signor I'm thinking. I once had a CA tell me that "because your name is first, you're the main debtor..." I'm sure that somehow it was a darn crock, but hey, what's good for the goose is good for the gander darn it! So, they'd have to go after her to, not just you. You said, "ignore them? If so, how do I stop the letters and phone calls? Don't ignore them, but don't talk to them on the phone. Send them a CMRRR letter requesting full validation of the debt along with the partial cease and desist and see what happens. Hope that was detailed enough...I feel like my brains are in the fog. Hope I helped...at least a little.Keep us posted.E~ Link to comment Share on other sites More sharing options...
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