Repo the car, sell the car for whatever you can get and then, get cash advances off those credit cards for the difference and forget this bk nonsense over an auto deficiency. Also, get enough of a cash advance to cover the legal fees and sue your ex. Give her something to deal with for life.
Violence was not a good answer then or now. I was 20 and stupid. I just constructed a letter to send to her what does everyone think? ---- This letter is to inform you of the serious delinquency of the jointly held auto loan through ford credit. According to records obtained by me through the Ford Credit (lender) Internet site. The account is in excess of sixty days delinquent. I demand that payment of the past due and current charges in the amount of $1700.00 (approx) is made immediately, to avoid the continued delinquency and possible repossession of the vehicle by the lender. Once again I restate my offer that was made verbally to you on 19 of December. If you should sign a legal release of liability and interest on the car, I will take immediate possession of the vehicle and make immediate payment of past due and current charges to the lender. It would be my intention to sell the vehicle as soon as possible, thereafter. I must insist that you should comply if you are unable or unwilling to make full payment on the account. It is of serious concern to me that if the account continues to be in default of the financial implications and inherent risk that it becomes to my financial situation. This is to inform you that I intend to take legal action against you to recoup any monetary losses that I may incur because of the situation. In addition to protect myself from any creditors. My goal is to find a positive solution for the both of us. It should be noted I support you keeping the automobile in your possession on the presumption that you refinance it immediately by yourself. In addition to making all current and past payments in full. I expect proof of full compliance with the previously mentioned requests by 31 of December.
That letter would be fine if she was 1 payment behing. You run the risk that they may repo the car at any time. Don't send her a letter and don't give her any more time. It should be obvious to you that she has no intention of making good on this. If she was worried about it don't you think she would have called you to explain the situation. Don't be a nice guy about this as you will be the one to get screwed in the end. GO GET THE CAR.
I agree w/ LKH that the severity of this problem demands action rather than more words. If you still insist on a letter (because it seems you want to give her every single chance under the sun to do right by you), fix your grammar. Better yet, have your attorney draft your intent to sue. IMHO writing a letter implies she has a (legal?) right to some days to respond either positively or negatively. Don't bend over backwards just because you still feel guilty from 2 years ago. This is a business deal, and she's not keeping up her end of it.
Wouldn't it be better to take the car sell it for 15 grand and only be stuck for 8,000 instead of 23,000/
I don't think you can sell the car which secures the loan, and keep the loan and make payments on it. You would have to pay off the loan to get the title. Can't sell it without the title.
Just reading this today 12/27/01....but here goes.. AGAIN..I REPEAT...AGAIN!! NEVER DO FOR SOMEONE WHAT THEY CANNOT DO FOR THEMSELVES. IF THEIR FAMILTY MEMBER WON'T DO IT, WHY SHOULD YOU! MUST BE A REASON HUH? Some people do have terrible luck, but when it comes to finances, let them find another resource. They'd have to be my spouse (damn the BF/GF stuff). Good luck. Definitely repo the car, take her to court, sue, garnish her wages and put a lien on that bank account if she has one!
Something else that you might want to consider. What if she or her b/f have an accident with the car? In some states you could also be held liable and named in any lawsuits.
