Legal Question in Family Law in New Mexico
Car Loans after Divorce
I'm marrying someone who is recently divorced and I am concerned with his ex-wife's name being on his car loan/title and vice versa. The divorce decree states that he is no longer liable for payments, etc, but I would rather his name be off her loan and her name off his loan. How do we go about doing this?
1 Answer from Attorneys
Re: Car Loans after Divorce
Among divorce lawyers and family law judges there is an old saying "you can divorce each other but you cannot divorce your creditors." The question you ask is right on point to the old saying.
The way your husband gets his name off of his former spouse's debt is to either pay off the debt or to refinance the underlying debt. (This is similarly true to her side of the equation). What you have run into here is a fairly common situation and one that you may soon find yourself facing if you and your soon to be mix your monies. It requires money to resolve it and it requires trust, patience and decent behavior to live with it.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
