I Co-Signed for a Car for an Ex-Girlfriend. Now They Are Coming After Me. – Chase

“Dear Steve,

I co-signed for a car loan for an Ex-girlfriend about a year and a half ago. She has been late on at least 50% of her payments, wrecking havoc on my credit. A point to note is that, though I went in with the intention to co-sign, they made me co owner without me knowing. Looks like I should read the paperwork I’m signing.

When we were dating she also racked up a credit card I had, which I had no recollection of until I saw the bill in the mail. She told me she would take care of it when we broke up but never touched it, so it got turned over to collections. I have already paid that off.

She is now upside down on the car loan because she has been driving the car all over the country. She owes $8000 more than what the car is worth. She keeps lying to me, and making false promises about everything, such as paying the car on time, paying me back for my credit debt I accrued due to her, et cetera.

I recently got fed up with her, and changed my number so I get a breather from the stresses related to her. She got severely upset with this, and now won’t communicate with me at all, and told me she doesn’t want the car anymore and won’t make payments.

I am a full time college student, and can not afford a 22,000 dollar car loan. Plus I am not going to take a car that is upside down due to her, and let her be carefree about all the debt. I am now willing to take the credit hit. I know creditors are going to come after both of us.

How do I make myself a less desirable target to creditors, and have them rightfully go after my ex-girlfriends instead?


Dear Chase,

The lender will probably repossess the car, sell it at auction and then come after you for a massive default balance due.

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The reason the lender requires a co-signer is for just this reason. If the primary applicant does not pay the co-0signer is full on the hook for the debt. As a co-signer you have 100% of the liability with none of the benefit of ownership.

But the co-ownership thing is troubling as well. For all you know you might owe back taxes on the car, or be on the hook for tickets and other penalties.

The most assured way to make yourself less attractive to the lender would be for you to wait till they come after you or sue you and then file bankruptcy. Your bankruptcy would discharge your debt and leave it all on her shoulders.

Otherwise, don’t be surprised if you do get sued for the balance do and the creditors go for a wage garnishment or even a judgmenet. While you might now have much in the way of assets or income right now, that doesn’t mean you won’t in the future.

Look at it this way, you’ve learned a great lesson is what never to do again.

Please post your responses and follow-up messages to me on this in the comments section below.


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Damon Day - Pro Debt Coach

Steve Rhode
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