Legal Question in Credit and Debt Law in Utah

Re: Truck Lease

They cannot come after your husband, only you. They will repossess the truck (or you voluntarily surrender it) and then will resell the truck - probably at wholesale, They will then sue you for the difference in what the truck was sold for and the balance of your obligation under the lease, or will sue for the balance of the lease payments. In either event you will owe a lot on the truck. You can discharge the obligation in bankruptcy (which your husband does NOT need to file.) You can also sell the truck yourself with the cooperation of the lease company and sign a note with them for any loss. You can also let someone else assume the lease payments.