I seperated from my ex in 1998 and my divorce become final in 1999. When I left, I contacted a bank in regard to our vehicle loan which I found was 60 days overdue. I paid it current in 1998 but have not paid since. In my divorce the vehicle was given to my ex with the judge's instructions for him to refinance...he didn't, nor did he ever make a payment. He apparently left the area because the bank was unable to locate him or the vehicle. Bottom line is, I have a copy of my credit report from 01/2002 showing it as charged off as early as 09/98 (Last Delinquency Date) from TU, with 01/02 from XPN and 12/01 from EFX. No payments have been made on this vehicle since the beginning of 1998. I was just turned down for a job because they said they pulled my credit report and it shows as a charge-off with the last delinquency listed in 2005. I have tried, through attorneys, to settle this debt with them (in 2002) to no success as I didn't have an extra ten grand hanging around to send them (50%), HOWEVER I have never paid them a dime, nor has he. Shouldn't this be removed by now? Do they get to keep updating the last delinquency date to keep it on there forever? How long do they have until the statute of limitations runs out and they can no longer try to collect this from me? I moved away and I suppose they don't know where I am, as they haven't contacted me in two years. Please advise - this charge off is ruining my life and I haven't seen this vehicle in 8 YEARS! Thank you for any advice!
It would seem to me that if you have a court order from The judge that shows in the divorce decree that it became the responsiblity of your Ex.You should,nt have it on your CR.. I would press that issue.Since it was ordered by the courts for Ex to do so. The date of the last payment is when the SOL starts for collecting..Check you state for SOL. If you moved did you move out of State? Keep checking this site You should get more help.
The court order requiring her husband to refinance would not release her from liability to the lender if they are both on the loan. SOL depends on your state law, and is unrelated to reporting period. It would generally be measured from when the last payment was made. If it went delinquent around in 1998, it should come off reports 7 years later, or possibly up to 7.5 years later. It should be off now, or about to drop off. Check with the CRA on when it drops off, and what original date of delinquency is being reported. If it is actually being reported as delinquent in 2005, contact an attorney. You have real damages, due to loss of a job.
My divorce decree doesn't specifically state that he had to refinance although the judge did verbalize that to him. The decree states 'Possession and debt responsibility for Ford Explorer will go to ---' Looking back, I wish it had also stated that he had a specific period of time to refinance it...although since he left the area and has yet to be found he still would not have. The attorney I contacted in 2002 to attempt to settle also informed me it did not matter what my divorce decree or any court order said...it was still a joint obligation that I agreed to at the time and creditors don't care what happens in your divorce! The creditor is in Indiana and at the time I lived in Kentucky...now I live in a different state, but the creditor would have to follow the SOL in their state, not mine, correct? Thanks so much for the advice!!
You're right - attorney told me the same thing. The last payment was definitely made in early 1998 and they are well beyond the 7 years. Do you think I should send the letters to the CRAs for it to be removed now? I think I should but would want to send them certified and would be afraid my address would be updated which would again allow the bank to find me! What to do? Thank you for the advice - I appreciate it....I usually feel like I am swimming through websites trying to find the truth about what they can and can't do - this helps!!
Also, I agree with that...but unfortunately I'm in a vicious catch-22 with the situation....no job means no money to hire an attorney, no attorney means no getting it cleared up, no getting it cleared up means no job! I work in banking myself so I'm pretty much screwed anywhere with this being reported in 2005!
