Diyvehiclerepair
As long as both of your names remain on the account, the creditor can go after both of you for payment. So, if your spouse agrees to pay off the auto loan since they're driving the car and he or she skips payments, the bank can go after you for payment if you're still on the auto loan.
- Can creditors go after my spouse for my debt?
- Who owns the car in a marriage?
- Is a spouse liable for the other spouse's debt?
- Is a car loan marital debt?
- How can creditors find my bank account?
- How can I protect my bank account from garnishment?
- Is a car considered an asset in divorce?
- Can you drive your husbands car?
- Do I have to pay my wife after divorce?
- Does your spouse's debt become yours?
- How do I protect myself from my husband's debt?
- Can I be held responsible for ex husband's debt?
- How is a car loan divided in divorce?
- Can I transfer my car loan to my wife?
- Are car loans marital property?
Can creditors go after my spouse for my debt?
Even if your spouse opens up a line of credit in their name only, you could still be liable for that debt. Creditors can go after a couple's joint assets to pay an individual's debt. ... In that case, the creditor can only go after the person responsible for the debt.
Who owns the car in a marriage?
California is a community property state, meaning that all community property and debts that are acquired during marriage, including real estate and vehicles, are considered to be the joint property of both spouses and are distributed equally.
Is a spouse liable for the other spouse's debt?
Since California is a community property state, the law applies that the community estate shared between both individuals is liable for a debt incurred by either spouse during the marriage. All community property shared equally between husband and wife can be held liable for repaying the debts of one spouse.
Is a car loan marital debt?
A joint debt is one in which you and your spouse are both responsible. An example for this would be a car loan that is signed by both of you. But separate debt is a debt for which only one spouse is responsible. Typically, that includes debts one spouse brought into the marriage.
How can creditors find my bank account?
A creditor can merely review your past checks or bank drafts to obtain the name of your bank and serve the garnishment order. If a creditor knows where you live, it may also call the banks in your area seeking information about you.
How can I protect my bank account from garnishment?
Open a Bank Account in a State Whose Laws Prohibit Garnishments. A judgment debtor can best protect a bank account by using a bank in a state that prohibits garnishment against banks. In that case, the debtor's money cannot be tied up by a garnishment writ while the debtor litigates exemptions.
Is a car considered an asset in divorce?
Your car is one of the most important assets that you own. Your state plays a factor in the division of assets. Getting a professional to appraise your car is more beneficial than the insurance company.
Can you drive your husbands car?
Can I drive my partner's car? Driving Other Cars (DOC) insurance isn't usually included as part of a fully comprehensive policy. Unless your policy states otherwise, you'll only be able to drive your partner's car if they've added you as a named driver or have a family or any driver car insurance policy.
Do I have to pay my wife after divorce?
Alimony, which is also referred to as "spousal support" in California, is payment from one spouse ("payor spouse") to another ("supported spouse" or "payee spouse") after they separate with plans to divorce. ... In California, spouses can request temporary alimony, permanent alimony, or both.
Does your spouse's debt become yours?
Do You Inherit Debt When You Get Married? No. Even in community property states, debts incurred before the marriage remain the sole responsibility of the individual. So if your spouse is still paying off student loans, for instance, you shouldn't worry that you'll become liable for their debt after you get married.
How do I protect myself from my husband's debt?
Keep Things Separate
Keep separate bank accounts, take out car and other loans in one name only and title property to one person or the other. Doing so limits your vulnerability to your spouse's creditors, who can only take items that belong solely to her or her share in jointly owned property.
Can I be held responsible for ex husband's debt?
If responsibility for your spouse's debts is part of your divorce settlement, this means you must pay these debts. However, if your court determines your spouse is responsible for your debts and he or she does not pay them, you can be sued by the creditors.
How is a car loan divided in divorce?
When a couple divorces, they have to sort through their assets and debts and decide who will take what, and who will pay which debts. ... So, if your spouse agrees to pay off the auto loan since they're driving the car and he or she skips payments, the bank can go after you for payment if you're still on the auto loan.
Can I transfer my car loan to my wife?
Your wife will need to refinance the loan under her name. Refinancing is the only way to change the terms of your car loan and the people it includes. This also means that the interest rate (APR) and length of the loan will change. ... On average, car owners pay $85 less every month by refinancing their auto loan.
Are car loans marital property?
Thus, a joint car loan continues to be joint in the eyes of your creditor, even if your former spouse is the party ordered by the court to maintain responsibility for the loan. You do have remedies to protect your credit, which you may be able to incorporate into a divorce decree.
