Summary
The user is dealing with a post-divorce issue in Indiana where the court ordered the ex-spouse to assume the remaining debt and sole possession of a vehicle. However, the creditor, Credit Acceptance, claims their contract supersedes the court order. The user is concerned about what would happen if the ex-spouse defaults on the loan or if the vehicle breaks down. The user has suggested the ex-spouse refinance the loan under her name only, but hasnt received a definitive answer.Full Conversation
I recently had a divorce finalized, and per the judge, I am to issue my "surrendering interest" in the vehicle within 60 days (now *). However when I speak with the creditor, they say our contract supercedes any court order, and I am bound to that debt. Can you tell me more about that?
What state are you located in? This will help me provide the most accurate information.
Indiana
What is the exact wording of the court order regarding the vehicle?
I don't have any documents directly in front of me, I'm sorry
Can you recall any specific terms or conditions mentioned in the court order regarding the vehicle?
That she is to assume the remaining debt, and assume sole possession of the vehicle
What is the name of the creditor company? This will help me provide more specific information. In general, court orders usually supersede private contracts in divorce cases.
Credit acceptance
What is the nature of the contract you have with Credit Acceptance? This will help me understand the situation better. In general, court orders usually supersede private contracts in divorce cases.
An auto loan repayment
What is the remaining balance on the auto loan? In general, court orders supersede private contracts in divorce cases. However, the creditor may still pursue the debt if not paid.
I'm trying to login to the account, just a moment, I'm sorry
No problem, take your time. It's important to know the remaining balance to understand your financial obligations better.
$*
What is the payment plan you have with Credit Acceptance? In Indiana, court orders usually supersede private contracts in divorce cases. However, the creditor may still pursue the debt if not paid.
She has been paying $*.*, until the balance is met
What is the duration of the payment plan? In Indiana, court orders usually supersede private contracts. However, creditors can still pursue the debt if not paid.
Monthly
What is the remaining duration of the payment plan?
*/*/*
What is your ex-spouse's stance on this issue? Are they willing to continue with the payments as per the court order?
For now, she is making the payments because that is her only vehicle, but if the car was to have a costly breakdown or she defaults on the loan, what can I do?
Have you considered discussing with your ex-spouse about refinancing the loan under her name only? This could potentially remove your liability for the debt.
I have mentioned it, but I can't get a definitive answer
What is the reason your ex-spouse is hesitant to refinance the loan under her name only?
TRY ME!
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