I Don’t Want The Car In My Driveway, I Can’t Afford, to be Repossessed or Effect My Credit. – Brandy


“Dear Steve,

I signed a car loan for an ex, now he is not paying…What do I do next?

In November 2008 my boyfriend of 3 years and I went to a auto dealer. We traded in both are vehicles for a 2005 Jeep Liberty (for him) and a 2004 Nissan Murano (for me). He was not able to get an auto loan but I was.

Both vehicles were put into my name only. Now 6 months later, I get home from work one day and the Jeep is sitting in my driveway along with the keys. He left no explanation as to why he did this.

NOW, I am stuck paying it. Both vehicles together were around $40,00. So, I am suck paying over $800.00 a month in car payments. I have no idea how I was given loans for that much. I make less than 12.00 an hour. I am a single Mom from a previous marriage and I haven’t received any child support in a year.

I can’t afford to ruin my credit by having it repossesed.


Dear Brandy,

It is only a matter of time before the Jeep will be repossessed. It won’t be long now, on your current income, that you will most likely fall behind on the payments.

Co-signing is a suckers game. The co-signer usually thinks they are doing a good thing, but they really are not. At least not for themselves. When a lender requires a co-signer it is because the primary applicant has such bad credit that they want someone with better credit to go after if the crappy credit person does not pay.

But the bad stuff hasn’t even happened yet. You see once the Jeep is snatched by the repo guys it will be sold at a public auction. The difference between the current loan amount and the auction sale price will be your responsibility to repay. The bill will be huge. I would guess the bill will be in the $16,000 range plus some fees.

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I’m not telling you all of this to scare you, but to alert you of what will happen. You can better deal with it if you are informed about what is coming.

Now once you get the bill, you won’t be able to afford it. Your financial life will swirl down the toilet and it will create great anger and stress for you. The best way to avoid all of that is to wait for the vehicle to be repoed and the big bill to land in your lap. At that point you will strongly need to consider going bankrupt to end that financial liability.

This problem is created by your boyfriend dumping the car in your driveway but it all began by a lender approving you for credit that you had no business being approved for. They put you in a noose and your boyfriend kicked the chair out from under your feet.

Please, never co-sign for anyone else and warn all your friends about the perils of co-signing as well.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Steve Rhode

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