What to do if a collection company is coming after me for my ex-husbands car loan?

UPDATED: Feb 16, 2012

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What to do if a collection company is coming after me for my ex-husbands car loan?

I have been divorced for 3 years. In the decree the vehicle was assigned to him along with the loan (the loan is in my name as well). He has defaulted on the loan and the vehicle has been repossessed. Now a collection agency is coming after me for the balance of the loan because they cannot find him. They want to offer me 50 cents on the dollar. I think legally since I am on the loan that supersede the divorce judgement but can I make them a counter offer of an even lower amount? And how can I be assured that my payment will finally puts this issue to rest?

Asked on February 16, 2012 under Bankruptcy Law, Colorado


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

You are indeed correct that the loan agreement is what governs here.  Mostly because the lien holder for the car was not a party to your divorce and hence the agreement you had with your husband - or ex husband.  I would indeed try a counter offer - what do you have to lose - and once the terms are set I would take the stipulation of settlement to an attorney to review.  Then talk to the attorney about suing your ex based upon your contract.  Good luck.

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