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Divorce, bankruptcy, auto loan

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tcarlson23
New Visitor

Divorce, bankruptcy, auto loan

my husband and I bought a Lexus for me based on the fact that he had a company vehicle and together (mostly him) we had a nice 6 figure income; 2 years ago (one year into the loan) he walked out on me & our kids and the 1st two things on his priority list were moving his girlfriend in and filing for bankruptcy.  I was left with the car payment of $600 & a mortgage i couldnt afford so now i'm waiting out foreclosure; I have 6 months left in the house and I wont be able to afford to put a roof over my kids heads while i have this car payment so i've taken a loan from my 401k to payoff the car; my question is this: since he filed bankruptcy have i been helping him rebuild his credit every time i've made my car payment & is my paying it off going to help him big time?  Cuz if thats the case i'm going to try and refinance to get him off the loan before i pay it off.  He's had his cake & eaten it too and I'm not going to give him another win while i've lost everything. 

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guiness56
Epic Contributor

Re: Divorce, bankruptcy, auto loan

Hi and welcome to the forums.

 

By filing a BK, depending on the type, he wiped out all of his debt, unless he reaffirmed the auto loan.  Not sure how that would work if he doesn't have it.

 

But, since it has been a year into the loan and he filed BK, getting it in your name only shouldn't be a problem, especially since you will be paying it off.

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