Legal matters with bills, some assistance if possible??

[zilverenvlinder]

So, I've been cohabiting with my now ex fiance for almost two years.

 

Two years ago, we financed a HUGE plasma screen television for 3000 dollars. We had to finance it in my name, because he had really bad credit. He is, however, the secondary signer. I'm not sure how this all works, but the bank it is financed through won't even talk to him about the loan over the phone without my permission.

 

So, even though he's made the payments this whole time, and it's almost half paid off, this television belongs to me, doesn't it?

 

Actually, everything that's financed in our townhouse belongs to me, because I'm the primary signer!

 

This wouldn't even be an issue if he hadn't f---ked me over so royally.

 

Does anyone have any legal advice for me? Thanks!

[corazoncito]

I don't really have any experience with these kinds of things, but I would think he could sue you in small claims court if you try to keep the TV, provided he can prove with bank records that he's been making all the payments (like cancelled checks to the finance company or credit card charges).

 

Do you want the TV? If you take it, you'll be responsible for over $1500 in debt. And you may have to reimburse him for at least a portion of what he's paid (if he sues you).

 

I guess if he's ok with you keeping the TV and you're ok with paying off the remainder, you're fine.

 

It's late and I'm not really thinking clearly. I'd be worried about the debt being in my name. If you keep the TV, he has no reason to keep paying. Can you afford the other $1500? If you let him keep it, do you have any guarantee he will keep making the payments? Get it in writing!

[LakesideDream]

So, I've been cohabiting with my now ex fiance for almost two years.

 

Two years ago, we financed a HUGE plasma screen television for 3000 dollars. We had to finance it in my name, because he had really bad credit. He is, however, the secondary signer. I'm not sure how this all works, but the bank it is financed through won't even talk to him about the loan over the phone without my permission.

 

So, even though he's made the payments this whole time, and it's almost half paid off, this television belongs to me, doesn't it?

 

Actually, everything that's financed in our townhouse belongs to me, because I'm the primary signer!

 

This wouldn't even be an issue if he hadn't f---ked me over so royally.

 

Does anyone have any legal advice for me? Thanks!

 

 

Can you say "Judge Judy"? This is a very common situation. It's also the best reason to never co-sign or use yourself as a primary on credit purchases. If you do co-sign just consider that you are buying the item hoping your "partner" will pay.

 

Truth is, there is nothing you can do if he doesen't pay for the TV besides take him to small claims court. That's a hassle you probably won't go through for the balance on the item. If he does pay, so much the better. If I were you I wouldn't say a thing until he misses a payment. He may like watching the TV enough to keep paying for it. On the other hand you can buy a 50 LCD brand new for $1200.00 today.

 

Oh, to me it's a "red flag" if a person doesen't have credit for the things they want. There may be a good reason, but they will have to prove it's a good one to me.

 

I never ever co-sign, or loan money to friends. If it's my kids, I just give it to them. Everyone else I ignore the request.

[corazoncito]

I just assumed when I responded before, based on another thread of yours, that you're asking this because you're planning on moving out or kicking him out and you're trying to plan how to split up the possessions. Is that correct?

 

I agree with Lakeside that you would probably be considered the legal owner of all the financed items, but that includes all of the debt associated with them too. I'm afraid your ex may have you over the barrel because even if he does have some liability for paying them off, his credit apparently is already shot, so it's not like missing payments will make things much worse for him. But if you have good credit, it can really have a bad impact on you.

 

Be very careful how you handle this situation. Now is not the time to be emotional or impulsive. Try to keep a cool head and think your strategy through before you make any decisions or say anything to your ex.

[BikerBeagle]

So, even though he's made the payments this whole time, and it's almost half paid off, this television belongs to me, doesn't it?

 

Actually, everything that's financed in our townhouse belongs to me, because I'm the primary signer!

 

This wouldn't even be an issue if he hadn't f---ked me over so royally.

 

Based on that very last statement, I'm guessing you probably don't want the TV ...you just don't want him to have it? ...or anything else for that matter? Revenge is a dish best served ...not at all. Don't be a party to making your break-up any uglier than it already is.

 

If he's making the payments - and has been all along, in full and on time - give him the damn TV, sheez. If he continues to make the payments, all it's doing to you is helping your credit rating. As others have said, you can certainly keep everything, but you also keep the entire liability of paying for it.

 

If you have a lot of property together, another option is to claim "common law marriage" (check your state laws to see if that's possible ...in some states, it just requires living in the same residence for 6 months) and do a full divorce. It's costly, but legally final ...but it's usually not needed if the two of you could act like adults for 30 seconds and be reasonable.

[Mr. Lucky]

...but it's usually not needed if the two of you could act like adults for 30 seconds and be reasonable.

Amen. Why not just divide the stuff up (including the TV) based on who's paid for it and what they want? Wouldn't it be better to just get on with your life and be done with this? If there's any left over financial obligations (like the balance on the TV), you can account for that in the division...

 

Mr. Lucky