I Don’t Want Anyone Coming After Me For His Ford F-150 Loan. – Marcia
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Marcia wrote to me through the GetOutOfDebt.org site and asked the following question. If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.
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“Dear Steve,
My ex-husband and I were living together for the past 5 1/2 years; he just left a week ago. We are on a loan together for a 2005 Ford F-150 which he owes $23,000 on. He won’t refinance the loan to get my name off (he probably couldn’t get the loan anyway).
I don’t want to get stuck with this; I have been working two jobs for the last 5 years trying to get my credit straight and in the next two years I should be almost debt free (except for my car loan, which is fine). I don’t want someone coming after me for this; please help!! I can’t talke this anymore and don’t know what to do
Marcia”
Dear Marcia,
I’m afraid that the only way to get your name off this loan would be if he refinanced it or the loan was paid off. There is no obligation that I am aware of for the lender to release you from any liability for this joint loan.
Big hug.
Source: I Don’t Want Anyone Coming After Me For His Ford F-150 Loan. – Marcia
Originally posted 2009-07-07 13:54:28.
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It’s difficult to refinance an auto loan because vehicles depreciate so much. Most people owe more on their vehicle loans than their vehicles are actually worth. You are in a frustrating position due to your separation.
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