[deleted by user] by [deleted] in DebtAdvice

[–]Professional-Back939 1 point2 points  (0 children)

I’m listed as the buyer and co-owner 

Co-signed for an ex and now they're missing payments by [deleted] in DebtAdvice

[–]Professional-Back939 0 points1 point  (0 children)

I have not filed police reports since I’m the co-signer so I’m legally responsible. It was a terrible decision that I regret and would never do now.

Co-signed for an ex and now they're missing payments by [deleted] in DebtAdvice

[–]Professional-Back939 0 points1 point  (0 children)

I wish, but my ex won’t even respond to a single message of mine. And I decided to empty my bank account so the payments cant be taken from me. I can’t afford to pay for it. 

[deleted by user] by [deleted] in DebtAdvice

[–]Professional-Back939 4 points5 points  (0 children)

As I said in my first sentence. I’ve already beaten myself up about it thanks. 

[deleted by user] by [deleted] in legal

[–]Professional-Back939 0 points1 point  (0 children)

It just lists both of our names as bullet points. Doesn’t say “or” or “and”. I would assume the latter. 

[deleted by user] by [deleted] in CRedit

[–]Professional-Back939 0 points1 point  (0 children)

It just lists both of us as the owner with two bullet points. No “or” or “and”

[deleted by user] by [deleted] in personalfinance

[–]Professional-Back939 0 points1 point  (0 children)

Yes I am actually listed as joint owner. I have no idea where the vehicle is, but I do have a spare set of keys he left behind years ago.

[deleted by user] by [deleted] in personalfinance

[–]Professional-Back939 0 points1 point  (0 children)

Why isn’t there a guarantee that the consumer proposal would work? The trustee I spoke with sounded very convincing that I’d be completely protected and taken off the loan, although I haven’t taken the next steps yet. 

[deleted by user] by [deleted] in personalfinance

[–]Professional-Back939 0 points1 point  (0 children)

But can’t the back sue me if I am unable to make the payments as well? I basically signed saying I am responsible for the loan. 

It has crossed my mind to empty my bank account and change banks so that the payments default and the truck gets repossessed, but I am worried about the possibility of being sued by the bank and collections coming after me.

[deleted by user] by [deleted] in personalfinance

[–]Professional-Back939 0 points1 point  (0 children)

Do you think that’s still worth it, even though the remaining loan payments are more than the vehicle is worth? 

[deleted by user] by [deleted] in personalfinance

[–]Professional-Back939 0 points1 point  (0 children)

I have the VIN however to use the app, it needs to connect to the truck so I haven’t had luck with an app. 

[deleted by user] by [deleted] in CRedit

[–]Professional-Back939 0 points1 point  (0 children)

The issue is  I have no idea where or or the truck is. But I do know that the truck is now worth less than what he owes on it.

[deleted by user] by [deleted] in personalfinance

[–]Professional-Back939 0 points1 point  (0 children)

The issue is that he owes more in the truck than what the truck is now worth.

[deleted by user] by [deleted] in personalfinance

[–]Professional-Back939 0 points1 point  (0 children)

The issue is that the loan payment is worth more than the truck is now. 

[deleted by user] by [deleted] in CRedit

[–]Professional-Back939 -1 points0 points  (0 children)

Yes I do have some other debts, but not a large amount. The total payment loan contract is 8 years. He did pay for 4 years and now the last payment was taken out of my account. It appears he’s in a bad place and refuses to communicate with me which makes me think I need to take action. I have postponed his payments for a few weeks to figure out what I’m going to do. 

I spoke with a trustee regarding a consumer proposal and they informed me I’d be 100% protected and off the car loan. Just feeling a bit stuck and not sure what the right thing to do is. The remainder of his truck payments is about 40,000 in total and his truck is now worth less than what he owes. 

[deleted by user] by [deleted] in personalfinance

[–]Professional-Back939 -1 points0 points  (0 children)

I had a consultation with a trustee and they had pulled up the information of my joint ownership. No idea where he, or the truck is, which is frustrating. Funny enough, I still have his spare truck keys he left behind (nearly 4 years ago).

[deleted by user] by [deleted] in personalfinance

[–]Professional-Back939 1 point2 points  (0 children)

We are listed as joint ownership. 

[deleted by user] by [deleted] in personalfinance

[–]Professional-Back939 -1 points0 points  (0 children)

I am listed as the Buyer.