Legal Question in Family Law in Minnesota
Divorce Decree
Lease for car signed by husband.
Judge subsequently awards leased
car with encumbrances to wife.
However, GMAC still holds husband
responsible for monthly payments
and balloon payment of $36,000.
GMAC says he will lose his credit if he
fails to pay. Who is responsible for
payments? Can GMAC ruin his credit?
2 Answers from Attorneys
Re: Divorce Decree
The party that signed on the loan is responsible for the payments to the creditor. That is true regardless of who is responsible based on a court order. A court order between two divorcing parties has no impact on the rights and liabilities between the parties to the contract. THe only way to avoid that result is to have the loan refinanced into the name of the person responsible for the payment by court order.
Re: Divorce Decree
You may have an action against the ex. You should seek an opinion from local counsel.
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