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13 years past-Co-signed, divorced, now being sued on vechile loan
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Posted by Snuggbugg (68.112.176.89) on February 11, 2003 at 19:08:06:
What is the time limit a Finance Co. has to take action on a vechile loan not being paid by primary owner, before they are not within the law to do so?
I am the co-signer to my "now" ex. At the time we were married in Virginia. I moved to Wisconsin and filed for divorce, he moved back to Ohio. I had forgot that I had co-signed 3 years prior for his truck loan. His truck is not mentioned in black and white in the divorce, which took place here in Wisconsin and mailed to him in Ohio.
I recently have been notified that I will be summoned to appear in court, hence being the co-signer and that the primary party has not made a payment since April 4th of 1995!! (of $50.00) and to thier knowledge is unemployed. This is my first notification of this matter! It will be 8 years as of this april. Can the Finance Co. still come after me (as the co-singer) for garnishment and payment on this vechile?
They stated they are not seeking re-po, since the truck is a 1989 Bronco. They are seeking over 17 grand from me!
Does anyone know the time limitations that a company has to seek damages on a loan not being paid?
If not stated in black and white on the divorce papers, am I still liable? There is a section in the Divorce that states:
The respondent (him) shall be awareded whatever vechile may be titled in his individual name and each and every other intangible personal property in his seperate possession, personal property held, titled in his individual name...... Each party shall be divested of, waives and renounces all right, title and interest in and to the property herein awarded to the other. All property retained by the parties shall be the separate property of the respective parties, free and clean of any right, title , interest or claim of the other party...etc.
"going gray"
Desperately seeking sanity......
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