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Wife fed up with truck -- and husband

q_v2.gifDear Terry,
I need some real help. My husband decided to buy a truck I told him he couldn't afford, he has terrible credit. And with me being a trusting wife, I let him put my name on the truck.

That was in September, and I've been getting letters from a credit company saying he hasn't paid any of his payments! I'm fed up with it and I'm going to have them come get the truck. Is there any way I can keep that repo from going on my credit?
-- DiAnna

a_v2.gifDear DiAnna,
If you're a co-signer on the loan and the truck is repossessed, that information will go on both your credit records. You don't say if he's your ex-husband, but if he's not an ex yet, you might want to consider it.

Here are this week's reader questions:
  • Sedan shoppers find buyer's market
  • Can I get a refund on my deposit?
  • Will bad credit sink my loan prospects?
  • I co-signed -- is my credit doomed?

 

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