Vehicle with both names on Loan...Q&A?


#1

Wife traded in our vehicle with both our names on the loan for an equity value of $8625.00 towards purchase of new car. Do I need to file any paperwork for half of that money since I am on loan too? Do I need to file an addendum to ED already filed with this vehicle assessed @ $8625.00 on it? I think I am entitled to half that value? Let me know what needs to be done to get fairness. Thank you for your time.


#2

I cannot answer a question that specific on the forum as I would need to have an understanding of the full martial estate.


#3

The car I am driving is underwater on the loan…it has a -$1200 value based on what is owed…these are only 2 vehicles we have and the marital home is headed to foreclosure…not much of an estate left…income for me now is~$40k and other spouse is now~$150k? also underwater in credit card debt by more than $30k…what can possibly be done if I am pro se?


#4

Specific advice on how assets can and should be divided is beyond the scope of this forum.