Credit problems

[klrsmom]

Divorce Decree states: Husband keeps truck and takes over the loan. If any time after October 2008 the loan goes past due he will sell the vehicle or refienace the truck, in order not to harm wifes credit standing.

He has not made a consistent payments. I requested every time I was notified that he either comply or return the vehicle to me. My laywer told me to stop and leave it alone. Yesterday I was notified that the truck was repossessed. The lending institution has offered me a deal to get it back and continue payments myself in order to save my credit. My ex states that he wants this to stop my refi of the house so he can take it. I am having a problem with the refi as my house is appraising for 100,000 less that what I owe and my credit score with the past due truck and several other bills he was given are not being paid.
Two questions: Do I take the auto loan deal and take on the debt of the vehicle? or fight it with the credit reporting agencies later. Secondly, If he takes me back to court because his name has not been removed from the mortagage can he take my house? (mortgage is current always has been).
He does not pay his child support either.

[Attorney Howard Iken]

Take the car and save your credit. Try to do something productive with the car. Keep good records. Because any money you lose is his fault - and you can present the info in court later on.

On the mortgage - your requirement is to make good-faith efforts to refi. Based on the value - a refi would be impossible. Because your payments are up to date - he has no "beef" with you. So the answer on that one is: he cannot take the house.

You said he is behind on child support. He definitely does not want to step back into court.


Attorney Howard Iken

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7635 Ashley Park Drive Suite 503K
Orlando, FL 32835

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