Soon to be ex sold atv, and im the one making the payments? Help Please!?

Question

Ok..this is the story. When my ex and I were together, we took out a line of credit and bought an atv, it's in both of our names. Well we are divorcing, due to him cheating and he told me that he wants to keep the atv, but he hasnt been making the payments as he agreed. Well since my name is on the atv I have been making the payments because I dont want to get my credit messed up, and I was going to make the judge give me the atv in court. Well I just found out today, that he got rid of the atv and now has a boat!!! Im soo angry. Im not sure if he sold it/traded it. Its not fare, I have been making the payments!! What can I do about this?

Answer 1

Do you have a good attorney?  You will need the paper trail that shows you are paying for the line of credit, the contract (signed by both of you), the check or receipt from the purchase of the atv (to show that is where the proceeds of the line of credit went to). Then maybe the judge in your divorce will award you the return of the money from your spouse.  Make sure you take those things to court with you, regardless of what your attorney says to do, just in case, but only take photo copies. You said that the ATV is in both of your names?  How did he sell it without you?  Maybe that is a criminal case? I don't know, might be worth checking out.

Answer 2

As frustrating as this obviously is for you, you are not screwed. Once this is all brought out by your attorney in divorce court, the judge will sort it out and it won't be pretty for your soon-to-be ex. In the meantime, be completely honest and proactive. Call the company you purchased the ATV from and explain the situation. Ask them to work with you and see if they can give you some sort of extension, lower payments, etc.  Anything they are willing to do would be helpful to you, but they won't be helpful if you don't come forward and explain your needs. Not all companies are the ogres we might think they are. When customers are transparently honest about their situations and asking for help, they are usually very willing to do something to help the customer. Never be afraid to ask for help from anyone. The worse thing they can do is say "no".  

Answer 3

Accept the fact that you are being screwed.

Your soon-to-be-ex knew that you expected him to either pay you for the ATV, or give it to you, or sell it and give you the proceeds.  His decision to sell it and keep the proceeds speaks volumes.  

In court, bring up the fact that you are still making credit payments for loans HE took out and that HE sold the asset in question.  Respectfully request that he either give you cash so you can pay off your line of credit or collateral (and title) of the same amount.

The judge will ignore the specific purchase, but look at shared assets and shared debt accumulated during the marriage.  *you* want cash if you can get it.