What can I do legally to get out of a car loan that I co-signed with my ex -wife?

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What can I do legally to get out of a car loan that I co-signed with my ex -wife?

I co signed for my ex wife car when we were

married. We verbally had an agreement early

on that we would split payment but she never

paid. I paid the full car note up until our divorce.

We put in writing but never put in the official

divorce agreement that we were to split the

monthly payments but again she never paid

her half. For 9 months I paid my half regularly

and on time. I recently stopped paying my half

because its becoming difficult for me and its

so far behind due to her negligence. She cant

get it refinance into her name due to her credit

etc. The car is dragging my credit down and I

need to get out this

Asked on July 12, 2018 under Family Law, Maryland

Answers:

M.D., Member, California and New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

The fact si that you cannot just get out of this loa. it is a legal obligation that you agreed to be liable for. The fact that you are nw divorce from your wife has no bearing on this since the lender was not a party to the divorce action. A contract can only be changed with the consent of all parties. Accordingly, you would need not only the lender's permission to change the terms of the loan but you ex-wife's as well. 

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You can't get out of the car loan, unfortunately. The car loan which you co-signed is a contract among you, your ex, and the lender. A contract can only be changed, including to let a party to it out of the contract, with the consent of ALL parties to the contract. You would need the lender and your ex to both agree to allow you out of the loan; otherwise, you will remain oligated to it. The divorce, your oral (that, not "verbal," is the correct term) agreement with your wife, etc. is irrelevant--none of that affects the contract with the lender, which was not a party to your marriage or your divorce.


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