I have a friend who is currently going thru a divorce. She is the main person on the loan, with her soon to be ex as a cosigner. The divorce papers have been filed, but the process is still ongoing. All the debts have been laid out. According to the divorce documents, he's agreed to take responsibility for that auto loan since he's the one who drives that car. Now, because of being unemployed and the soon to be ordered child support, he says he cannot make the payments and is going to default on the loan if she doesn't take the car and make the payments. What legal options does she have? She cannot sell the car because it us worth less than is what is owed.Legal advice please about an auto loan and a divorce?
They are both legally liable for the payment. They will repo the car, sell it dirt cheap at auction and sue both of them for any balance. They will likely go after her since she still has income.
She may have to sue him to recover the money since the divorce states he is responsible. Why is she letting him take a car that she knows he can't pay for? If he is unemployed, child support will likely be based on minimum wage. Has she taken that into consideration?Legal advice please about an auto loan and a divorce?
Well creditors don't honor divorce degrees so to the auto company that doesn't mean anything to them. Since they are both on the loan they are both reliable. The only thing she can do is make the payments to save herself from being sued and then letting the courts know that her ex didn't make any of the payments and he will then have to pay her back.
Its just that all loans seem a challenge to obtain recently. The online places are fast and I have heard the are have easier approval sometimes.
My friend recently used http://auto.deal4-you.com
if a loan's a joint acct then both parties r responsible
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