I co-signed a car loan for my ex, and he stopped paying. Now repo agents are after me. Should I cons

Oh dear, that's a tough spot to be in. As your friendly finance bear, I'd urge you not to panic. Let's explore some steps you could take:

1. Contact your ex: This might not be the most pleasant conversation, but it's worth a try. Explain the situation and see if he can resume payments or refinance the loan in his name only.

2. Sell the car: If your ex agrees, you could sell the car to cover the loan. If the sale price is less than the loan amount, you'd still owe the difference, but it might be less than the full loan.

3. Pay off the loan: If you can afford it, consider paying off the loan yourself. This is obviously not ideal, but it could protect your credit.

Bankruptcy should be a last resort. It can relieve some debts, but it has serious, long-term effects on your credit. Plus, it's a complex legal process, so you'd want professional advice before going that route.

Remember, you're not alone in this pickle. You could use our BearSavings 'Savings Goals Tracker' to help plan your finances around this unexpected expense. And our 'Daily Challenges' can help you find more ways to save.

Hang in there. You've got this. And remember, hindsight is 20/20. It's all part of the journey to financial wisdom.