Car loan and divorce

[NewDirections]

I'm getting divorced in California. My stbxh and I bought a car a year ago. We are both on the loan, with him as the primary and me as the secondary. Stbxh has the car and to my knowledge wants to keep it. I do not want the car. The payment is $600 a month until 12/13. I do not want the burden of having a huge car payment and being a single mother (I'm currently pregnant with our first child). I checked online yesterday with the financing company and stbxh is almost a month behind in payments He needs to pay $1,200 by 1/21. I have not spoken to him about this, but I know I need to. I try to avoid contact with him as he was very abusive to me when we were married.

I talked to my lawyer and he said that we can talk to the financing company and see if they'll refinance the car with just stbxh's name on the loan. What is the best way to go about this? Is it likely they'll refinance the loan? What do I do if stbxh won't refinance or defaults on the loan? Has anyone else been through this?

Any advice appreciated

[bluebunny]

That's frustrating. Can you call the finance company and ask?

I would consult further with your attorney about it since divorce law is state specific.

[gothnurse3]

I know it is different from state to state but when I got divorced in 2000 the attorney divided all that up quickly and we put out a notice that we were no longer responsible for debts other than our own from xx/xx/xxxx. I took the cheaper car....I am all about no debt. Good luck to you...I am so sorry that you are going through this when you should just be enjoying your pregnancy.

[Denvergirlie]

Divorce decrees stating who is responsible for what debt mean nothing to the creditor....

The creditor doens't care who says they are responsible, they only care about getting paid.

Either a re-finance on the car needs to occur to get your name off the loan, or the car should be sold and any remaining balance due tot he creditor be split as a joint debt.

Best of luck

[fierrbugg]

Originally Posted by Denvergirlie

Divorce decrees stating who is responsible for what debt mean nothing to the creditor....

The creditor doens't care who says they are responsible, they only care about getting paid.

Either a re-finance on the car needs to occur to get your name off the loan, or the car should be sold and any remaining balance due tot he creditor be split as a joint debt.

Best of luck

The last thing you need is to get harrassed when he defaults on the loan. And since your name is still on it, the finance company will expect you to pay. My understanding is that most cars get repo'd after 3 missed payments so time is of the essence. The important thing is that you do whatever you can to make sure that you and your little one can get a safe, clean start.

[lilyka]

:

I got the house. I took the loan. I have 18 months to refinance. I can't. I tried to sell. nothing. so my options are now to stay in the house with it just under my name or short sale (will wreck my credit and his) or foreclose (will wreck my credit and his) my credit is shot so i really don't care one way or another. So despite the divorce agreement there is just no way to get his name off this loan and we sink or swim together. yyaaayyyy :s but thats how it is going to be with his car too. fortunately all the high debt stuff was mostly in my xh name. but the house and another loan was in both our names. the difference between him and I is I have nothing to lose by defaulting on a loan. and there is nothing in our divorce decree about what happenes if I am unable to refiniance or if I default. I don't really know what will happen.....

long story short, yeah if he defaults before your name is off the loan, regardless of who is officially responsible for it according to the divorce decree, you are both screwed.

divcorce sucks.

honestly I would fight to get your name off right away. not 3 or 6 months from now. and if you can't I would sell the car and pay the balance owed (split between the two of you). at least you will save your credit even though it will cost you.

however if you are not concerned with your credit score, I would just let him default, tell the company when and where to repo the car and just be done with it.