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I know a person should never co-sign for anyone. I always have. This is why I feel so stupid but I signed on to a car loan 4 or 5 months ago for my ex. I was against it but the fact she was hanging my family over my head about it I simply caved in. I regretted it since that day. It's also why I took my kids and moved back home to where I'm originally from. But when I signed I was told she was the primary account holder and I was the co-signer. She was the one who would be making the payments. All of the info I gave to the finance guy at the dealer is the same then as it is today. My phone number, work phone, employment and address.

Well I received a call at work about a month ago from the lender. Of course me being on the road for work it wasn't until the next day I got the message. I tried calling back and I couldn't get through. So I left a message to call me back. No one did. I contacted my ex and she ensured me that she was just late and the payment was sent off. Being a busy person I then forgot about it.

Then a month later there was a message at work from another number from a guy named Kevin. I had no clue who he was but I suspected it was something to do with this loan.[...] Well then about two weeks later I came into my office there was another message from the lender. I called this time I was able to speak to somebody. They informed me she was almost 3 months behind and the car was in danger of being taken.

I was furious. But only at myself because I knew I shouldn't of signed onto this deal. I finally contacted my ex also. She had lost her job and didn't bother to tell me. Nor would she speak to the lenders when they called. Then just a few days later she called upset and told me the car was taken.

Well she had stuff in there she needed to retrieve. When she contacted the repossession department. She was told she couldn't get those items because she wasn't the primary name on the account. I was and she was the co-signer. News to me! I never received one letter from the lender and they had my primary phone number and address. On top of that if I'm the primary name on the account shouldn't I have received a payment book? And shouldn't they had been urgently trying to get into contact with me? I only signed this cause she needed a car and the dealer told me she needed a co-signer because she literally had no credit. But I ended up somehow being the primary name and she the co-signer. It makes no sense to me. How can someone with no credit be the co-signer? How did I end up basically being the one who applied for the loan when I didn't?

The lender has given me the run around and now the car is gone. I know I shouldn't of signed this in the first place but what is my best option with this messed situation?

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    Sucks for your ex. Why is this your problem now? – Yosef Weiner Jul 19 '15 at 16:25
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Your best option is to shrug. If the car was repossessed and is now gone, odds of your being able to recover anything that was left in it are not good. Your ex could try asking who it was sold to and asking them whether any of the stuff was still there and hasn't been thrown out yet, but don't expect the desired answer.. If said stuff had significant value it might be worth trying taking the repo folks to small claims court.

But I agree that this isn't your problem unless you want to make it so.

The thing you need to do is check whether the foreclosure appears on your credit record, and if so try to get it removed... though having been a signatory to the loan, and thus having accepted responsibility for it (even if only as backup/co-signer) I think the credit agency is going to be correct in dinging you for it. That's the downside of co-signing. Don't do it unless you're sure you can trust the other party to make payments and you're willing to take over the loan if they don't or can't.

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  • Well the car hasn't been sold yet. It's still at the tow lot. Her name is on the loan as well. I was told that she should be able to recover her things. They also were supposed to send a notification to the tow service to allow her to do so but they have yet to do so. – Smitty44 Jul 20 '15 at 3:42
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    As co-signer (first or second), you promised to make payments if she didn't. The repro, from the banking industry's point of view, is both your faults. Re the car's contents: Try checking with local Better Business Bureau and chamber of commerce -- and possibly other agencies if she's really that financially strapped -- but if the lot isn't willing to cooperate, small claims court or the threat thereof may be her only option. Nobody goes into the business of repossession with the intent to be kind... – keshlam Jul 20 '15 at 12:35
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    If it were me, I'd challenge the credit report as I was given no notice of foreclosure nor any reasonable contact beforehand. For I could have taken over but was not given a fair chance. – Joshua Aug 7 '15 at 21:42
  • @Joshua I think you're missing part of the story from OP: "Well then about two weeks later I came into my office there was another message from the lender. I called this time I was able to speak to somebody. They informed me she was almost 3 months behind and the car was in danger of being taken." (and that wasn't the first message he'd received) – Doktor J Mar 2 '17 at 15:46
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    @DoktorJ: A careful reading reveals the messages were in a short span after a long failure to really contact and failure to return any calls. – Joshua Mar 2 '17 at 16:19

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