|
|
| *Vultures Knob>>>Bike Repair |
Desperate need of advise... divorce question.... kind of a long one too.? |
i'm getting a uncontested divorce. we do not want to involve lawyers. hopefully it stays that way. the problem. we purchases a motorcycle may 2005, and took out the financing in my name, the bike was for him. during our seperation we have been spitting the payments down the middle but the bike has remained in his possession. NOW, at his apartment someone got on the bike in the middle of the night (probably drunk) and dropped it, scratching it bad, and putting a big dent in the casing. He has the bike on his insurance but he has liability only. he has not gotten it repaired. He dropped the bike at my apt saying that he wants nothing to do with it or me anymore. I cannot ride the bike for it is too big, i cannot afford the full payments by myself. and I cannot sell it because i will be taking a huge hit because of the damage. Should i just let it get repossessed? I don't need to buy a car or get any new CC in the next 7 years? what will happen in the repo process. Remind him that you both want an uncontested divorce... however, he's giving grounds for the divorce to be contested. Just because the bike is in your name doesn't mean that he is excluded from the marital asset. "Whats yours is his and whats his yours." Everything that's purchased or gained during the marriage is equal property between husband and wife. For instance, if during a contested divorce, as a marital asset, he could lay claim to the bike, or a portion of its value, -even if the bike is in your name. The court would consider some assets as outright yours if you had custody of the children and the assets were vital to their support (like their furniture). So the same also holds true with debt. Just because some debts are in one persons name and not the other, doesn't automatically exclude the other person. It has to be agreed upon between the parties who will be responsible for whichever bill/debt. Get a free consultation from an attorney and ask them the same question. If the bike is repossessed, the loan company/ bank can auction off the bike for whatever they can sell it and then sue you for the rest of the money owed. Any lawyer will give you a FREE advice session. Go thru the phone book and make a few appointments........it's free advice I THINK IF YOU LET IT GET REPO'D THAT WILL GO AGAINST YOUR CREDIT SCORE letting the bank take the bike is not worth the hit to your credit score. (you never know when you will need it!) instead, cut your losses and sell it for scrap. You should let it get repoed it would be in your best intrest just make sure you put it in the settlement agreement so he can't come after you for it. You better get all the financial issues like debts in writing. and isist that he pay half the bike payments. Even if its repod, you still owe the money The person who dropped it is responsible for repairs, period. Get a lawyer, sorry. |
| Tags |
| Cycling Bike Race Bike Insurance Bike Repair Bicycle Shop Bike Tours Trail Map Bike Pedals |
Bike Categories--Copyright/IP Policy--Contact Webmaster |