Expert: Ontrack Financial Group llc - 9/22/2009

Question
Dear Ontrack Financial Group,

Here's my situation:  My wife purchased a car a couple of years ago.  She could not get the credit because she had filed a bankruptcy, so I co-signed on the loan.  Well, in April she left me, and drove away in the car.  I know she is some place in Santa Barbara, California, but she will not give me an exact address. I received a bill and contacted her via e-mail immediately.  She said she had talked to the lender herself.  I called the lender and they said they had an address for her, but were instructed by her not to give it to me.  I have not received any more bills, but I want to be prepared if and when I do.  I cannot even find out if she has made any payments.  She's been difficult through all of this and already stole $1200 from my checking account, telling me she wouldn't do that!  I have good reason to believe she is not paying on this loan and that they will be coming after me again soon.  What can I do?!  I do not even know where the car is!!!

Thank you for your help.
Richad

Answer
Dear Richard,

Thank you for your question.  

A cosigner is entitled to account information.  Contact the loan company and request detailed account information. ( last date of payment, payment amount ect. ) If the loan company doesn't comply contact the attorney general in your state.

The loan company doesn't have to supply a cosigner with location information of a primary account holder. They're protecting the company in-case a party commits a violent act against the other.


Last but not least
Try to get you're wife to refinance the car in her name only, and never cosign a loan for anyone.

Warm Regards,

Ontrack Financial Group llc