Joint Loans


#1

Hello,

My husband met a woman online and moved to Oklahoma to live with her in Aug. 2009. I have not filed any legal separation a this point. My husband verbally agreed to continue payments on a vehicle that we have in both our names. He tried to move the loan to his name before he left, but his credit would not allow it. How are joint loans reconciled when divorcing? Is this something a bankruptcy lawyer will help with?

Also, due to financial issues that arose from our marriage (he was unemployed), I will be declaring bankruptcy (chapter 7). Should I wait to file bankruptcy? I will be proceeding with a divorce as soon as possible. I have not spoken to him since September 2009.

Thanks for your help and/or direction with my questions.


#2

If one party cannot refinance a vehicle loan the vehicle can be sold if the other spouse is uncomfortable with remaining on the loan until payoff.

I suggest you meet with a bankruptcy attorney regarding the opportune time to file.