In a past life I cosigned a car loan with my now ex-wife. We got divorced, she was to assume responsibility for the loan.
Fast forward a few years and the loan is almost paid off, down to about $300. I started noticing a few months ago that she was missing the payment deadline, earning some late fees, but ultimately making payments. I called the bank and verified that they wouldn't report late payments on my credit report unless the late payment was delinquent for 30 days. So I started watching the loan like a hawk, with the intention of stepping in if a payment every ran the risk of running over that threshold.
Yesterday I saw that it didn't look like my ex was going to make a payment within that 30 day threshold, so I called up the bank to make a payment and was told that due to a situation they were having with my ex--that they could not disclose with me--they would not accept any payments against the loan!
I'm at a loss of how to proceed. I thought the whole point of cosigning a loan was that I was to be responsible to make payment if the primary loan holder could not, but now they won't let me, and they said they're still going to report the loan to my credit for nonpayment.
I'm kicking myself because maybe I should have made payment as soon as it was late, rather than waiting until it was closer to the 30 days, but I didn't want to do my ex any favors. I have no contact with her, she has purged all her social media over the last couple years and changed her phone number, I don't even know where she lives, so reaching out to her to figure out what's going on is going to be a problem.
At this point, having made all the mistakes I've made already, how would you proceed in this situation?
Submitted January 10, 2019 at 09:22AM by Mortuis http://bit.ly/2FjX4LN
