Refinancing not an option-what is at that point?
Started by sphearox , Apr 16 2013 06:01 AM
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3 replies to this topic
Posted 16 April 2013 - 06:01 AM
I am posting this on behalf of my mother, I have been trying to research on this topic to help figure out what she can do. My mother had financed a truck with her ex a couple years ago and he left her. He keeps bothering her for the spare key, which she has legal rights to it, which she had cosigned on the truck for him. She still has the key, but he wont let her drive it. She is stuck at her roommates house carless for few weeks now. He told my mother that he tried to refinance in his name but they told him that he was not able to do it at that time and he would have to wait a year. I have never heard of that. Is there anything she can do? Does she need to take him to court or small claims court? I am not sure how she can proceed with this issue. If someone could give me any advice to relay I would really appreciate it! Thank you.
On what grounds?
He owns the truck. She guaranteed his loan. He has absolutely no obligation to refinance or give her the time of day.
As long as he's making his payments, all she can do is wait till the truck is paid off and then she's out from under the loan.
As to what she can do about being carless, she can go buy herself a cheap transportation car if she can afford it. If she can't I don't know what to tell you.
I know a little about a lot of things, a lot about a few things, and what I don't know I can look up.
Posted 16 April 2013 - 06:47 AM
My mother had financed a truck with her ex a couple years ago and he left her. He keeps bothering her for the spare key, which she has legal rights to it, which she had cosigned on the truck for him. She still has the key, but he wont let her drive it.
First of all, I assume this "ex" is an ex-boyfriend and not an ex-husband. Second, is the vehicle titled in both of their names or only in his name? If it's titled only in his name, what do you mean when you say "she has legal rights to it"?
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