My spouse and I had 2 vehicle loans, at the same credit union, both loans in both of our names. We are currently going through a prolonged divorce, and he is to be responsible for the unpaid loan, but the divorce is not final yet.. I have paid off one loan completely, the other vehicle was repo%26#039;d, but there is still quite a bit of money outstanding on the loan. The credit union will not release my car title to me without having the other loan paid off. I am leaving the state very shortly, and don%26#039;t want to keep my car. How do I either get the title, or get rid of my car? And can I even get rid of the car legally? I need help with this - any answers would be GREATLY appreciated.
What can I do to get my car title, or just get rid of my car?
for starters, you can%26#039;t legally sell a car without a title. no questions asked.
check with the credit union on sale of the vehicle, whether you can advertise and sell to pay off balance. But you will have to do this without the car unless they offer to release the car for a deposit and future payment arrangements,
or
bite the bullit because most credit unions feel that by the time they repo it you have had plenty of time to either sell it or refinace. They feel that if you couldn%26#039;t make the payment you should have either gotten rid of it or refinanced
your payment. and telling them it is because of a divorce is a waste of time because they won%26#039;t care. they will cut their losses by taking the car to auction and getting whatever they can for it. and still make you pay it off or ruin your credit.
(they can get pretty nasty.)
good luck...
wish you the best...
What can I do to get my car title, or just get rid of my car?
depends on the state and the fine print of your contract.
advise your creditor you want to see the statute showing they can hold your %26quot;clean title%26quot; and satisfied loan in lieu of a seperate and unrelated contract
they did not secure the collateral on a car that is paid off.
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