Legal Question in Family Law in Kentucky
My ex husband and I just divorced in December 2009. There is a vehicle that is in both of our names. He has stopped paying on the vehicle. It was in the divorce that he was responsible, but I did co-sign on the truck. The finance company is beginning reposession proceedings on the truck. Do i have any legal rights to sue him since I did co-sign? He has said that he will file bankruptcy on any remaining debt owed to the finance company.
1 Answer from Attorneys
After the vehicle is reposessed, there will likely be a deficiency still owed on the loan. You will be responsible for this debt and the lendor can come after you to pay it. If they do, then you would need to file a motion to find your ex-husband in contempt and order him to "indemnify" you on the debt. Even if your ex files bankruptcy, the lendor can still come after you. The good news is that your ex-husband's obligation to indemnify you cannot be discharged in bankruptcy. That is why you need to pursue it through the divorce court rather than filing a separate suit.
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