Separation Agreement- Debt


#1

In our separation agreement, my husband will have possession of and be responsible for payments on a vehicle that is financed in both our names. Since the vehicle is financed, what happens if he defaults on payment. Would I be responsible or would adding specifics to our separation agreement protect me from the finance company?


#2

He should agree to indemnify you, but he can’t waive the contract between you and the finance company. You could contact them and try to get them to release you.


#3

They will probably require him to refinance the vehicle. They won’t just take your name off the loan!!!