Clearing my name

[startoveragain]

My name is on line of credit and 40ft boat. We have been separated 4 years. No fighting. He kept boat and line of credit from his house prior to marriage - added my name. Paid his house off with his 401k he had prior to marriage. Boat he kept and has been making payments on. Paying on both. I want my name off to have these debts removed from my credit report so I can purchase home in future. He says bank won't rewrite line of credit. Boat is under. If he buys me out - can it be for $1 and can I then get my name removed?

 

[army judge]

My name is on line of credit and 40ft boat. We have been separated 4 years. No fighting. He kept boat and line of credit from his house prior to marriage - added my name. Paid his house off with his 401k he had prior to marriage. Boat he kept and has been making payments on. Paying on both. I want my name off to have these debts removed from my credit report so I can purchase home in future. He says bank won't rewrite line of credit. Boat is under. If he buys me out - can it be for $1 and can I then get my name removed?

He's right.

The bank doesn't care, because the more fish they have on the hook, the better chance they have to get paid.

Try to negotiate, because your choices are limited.

The bets way to keep your name off is to never agree to sign or co-sign anyone's debts.

If you believe he committed fraud, take it up with the police or the bank.

 

[mightymoose]

If he secures a new loan under his name only to pay off the existing loan then you would be released. Perhaps he can find a good consolidation loan with a good rate that will reduce his payments.