If I co-signed for a vehicle with and ex-boyfriend 2 years ago and he won’t refinance or sell, is there anything that I can do legally?
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If I co-signed for a vehicle with and ex-boyfriend 2 years ago and he won’t refinance or sell, is there anything that I can do legally?
Asked on August 19, 2010 under Bankruptcy Law, Virginia
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You should speak with an attorney about your situation. It may be the case that you can bring a legal action to force a sale of the vehicle and a distribution or division of the proceeds. However, you'd have to weight the cost of doing so vs. the cost of the legal action itself, to see if it's worth it. If you helped by the vehicle, you should have rights to it, but it's always a question whether it's worth enforcing those rights. One option may be to see if you can't settle with your ex-boyfriend: perhaps he would buy out your interest in some form at a reduced rate. You could then get less than your full share, but at the same time, you'd avoid the cost and time involved in bringing a legal action. When you consult with the lawyer, bring all paperwork relating to the vehicle and the financing of it. Good luck.
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