jayjay269 Posted January 7, 2008 Report Share Posted January 7, 2008 Ok, heres how this story goes,My wife and her Ex husband bought a car together. They got divorced and the car wound up getting repoed. He is the primary on the car and she was secondary. Does anyone know of a way that we can go about getting this taken completly off her credit? The CA has called her wnting her to settle out at "less then what the car was worth" but they are not going after him, just her. I know it is going to be hard since she was on the loan, but there has to be a way to get this off of her report. Please, if anyone knows how this can happen, I am ALL EARS!!Jason Link to comment Share on other sites More sharing options...
sgip2000 Posted January 7, 2008 Report Share Posted January 7, 2008 Did she receive a timely "notice of deficiency"? Link to comment Share on other sites More sharing options...
Robert Nashville/Savannah Posted January 7, 2008 Report Share Posted January 7, 2008 First, understand that legally, at least in most states, it really doesn’t matter who is “first” or “second” on the loan - a co-maker is equally and separately liable for the loan and the creditor is free to “go after” whoever he wants (which is usually whoever they feel offers the best chance of collecting something).That said, each state is different but there are usually a variety of hoops a creditor has to jump through to repossess a vehicle and be able to collect on any deficiency. So, if they did anything “wrong” they may well have lost their ability collect on the debt through court action, etc.I truly do not know, however, if that would be sufficient to force the trade line’s removal.If you have enough available to make it worth their wile to deal with you, you may, after going through the DV process of course, want to consider settling in exchange for their complete deletion of the trade line; that may in the end be far less “costly” in terms of both time and money than trying to fight it. Link to comment Share on other sites More sharing options...
flyingsolo Posted January 7, 2008 Report Share Posted January 7, 2008 I am new to the Forum. Link to comment Share on other sites More sharing options...
jayjay269 Posted January 7, 2008 Author Report Share Posted January 7, 2008 Great information. I was thinking the same thing, maybe just useing our tax return, work out an agreement to just completly delete loan off of her CR completly and just leave it at that. Thanks for the words of advice!!Jason Link to comment Share on other sites More sharing options...
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