How to get released as co-signer of my soon-to-be ex-husband’s truck?
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How to get released as co-signer of my soon-to-be ex-husband’s truck?
I have been separated from my husband for6 months. The only joint property/debt we have is his truck, of which I am a co-signer. Due to financial issues, I believe I will be filing for a divorce on-line. Regarding the truck issue, is there any way I can get out of being a co-signer, if he won’t apply for/or get a loan on his own? And do I want to file for divorce with the truck issue not resolved?
Asked on July 14, 2011 under Family Law, Iowa
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I am so sorry for your situation. And I hate to say this but the truck issue may never be resolved short of selling it or paying it off. If he will not voluntarily refinance the vehicle then you may not be able to force him unless a judge orders him to do it as part of the divorce decree and if he does not, holds him in contempt of the order or allows you to do so as a result of a motion to compel it. And if he does try and refinance and can not because of his credit or his salary then you are again out of luck. Does he have any other assets such as a pension or 401K or anything else worth bargaining for? Please seek some legal advice from legal aid or possibly a women's group in your area and a pro bono group. Good luck.
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