Answer by
tamarawilhite (17883)
If both names are on the loan, both individuals are liable for the debt. The fairest resolution will be that each individual takes a vehicle. If there is only one car, sell the car and pay off the debt, with the person who needs a car to buy their own.
The institution that holds the loan does not care about divorce decrees. Anyone on the loan is still legally responsible for it. One of you has to apply for a new loan and both of you have to agree to it. add a comment