Stop Car Payments
Stop Car Payments
Gettin Divorced and the Car is in the wifes name,if I stop the payments then does the car get repossesed and sold and whatever is left after the balance is paid,the wife gets ! Anyone know if this is what happens ?
Re: Stop Car Payments
IMO once you've defaulted and it's repossessed, that's the end. No money upon sale back to the loan holder at all. I'll be pleased if I'm wrong. Good luck and be strong, I know it's a hard time for you. 
Pete 
Pete Governments are instituted among Men, deriving their just powers from the consent of the governed. Source
Re: Stop Car Payments
Cheers Pete,would rather loose it all than let her walk away with it !!Harsh but that's the way I feel ! Will just have to buy another! 
Re: Stop Car Payments
Maybe she will sell it. Probably end up in Isaan somewhere
RICHARD OF LOXLEY
It’s none of my business what people say and think of me. I am what I am and do what I do. I expect nothing and accept everything. It makes life so much easier.
It’s none of my business what people say and think of me. I am what I am and do what I do. I expect nothing and accept everything. It makes life so much easier.
Re: Stop Car Payments
if you stop paying it will be reposesed (spelling) after about 3 months ,thats where the fun starts is there a garantor , if so they will get a few calls and letters ,yhis will put pressure on you ex wife to clear the debt otherwise both will be black listed now if they both cant pay the arrears its snatched back by the finance company and auctioned off ,with them both having defaults registered on it ,if you want to take over the car you simply approach the finance company and say you will clear the arrears as long as its transfered to you ,
Re: Stop Car Payments
Cheers for the replys.
Ste860,good info ,think that is the way I will play it !
Ste860,good info ,think that is the way I will play it !