What happens to joint car loan if exspouse refuses to take off other spouse name on loan
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What happens to joint car loan if exspouse refuses to take off other spouse name on loan
Car was awarded in ex husbands name
pending he get the loan out of my name. If fail
to do so he would be required to sell the car. It
has been over the allotted time to do so and
have had one court case saying hes in
contempt and would go to jail if not resolved by
review court date. He tells me it will not be
completed on the future date so he will be
going to jail. But what happens to the car. Is it
now my responsibility? Do I have to sell it take
out a loan on whats still upsideown. And then
have his wages garnished.? Or what? Im lost.
State of Wisconsin
Asked on July 24, 2018 under Family Law, Wisconsin
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
What happens in your divorce has no bearing on the lender or your obligations under the loan: the lender was not a party to your marriage or divorce, and the settlement or ruling in your divorce has no effect on them or on the loan. If you are on the loan, you are equally responsible for the payments as your ex-husband; if the loan is not paid, the lender can sue you for the money (and damage your credit) and/or repossess the car. Whatever you can do to your ex for violating the terms of your divorce, you have to treat the car loan as if it is your loan and make sure it is paid or suffer the consequences.
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