Have first meeting with attorney scheduled for Feb 18. I know the attorney will answer my questions but feel I will get an answer sooner on the forum. I am married. The only joint loan I have with my spouse is a leased 2016 Honda Pilot. The plan is to surrender this vehicle as the payment is killing us. We have a second vehicle that is financed only in my name. The mortgage is only in my name but deeded in both our names. I’m current on the mortgage and both car payments. We intend to keep the house and other vehicle and pay for them. Will my spouse have to file with me since he’s on the lease? All the credit cards are only in my name. Literally the leased vehicle is only joint loan. My guess is if he doesn’t then Honda can come after him for the default? Amex just filed suit on me for defaulting on over $17k so time is of the essence. They will get a judgement and no way we can afford to pay them and everything else. We will be including about $80k in unsecured debt. Loss of job and priority became keeping a roof over our head, food on the table and the heat and lights on so we had to let the credit cards go. We can manage with one vehicle but desperately need relief. Long story to ask a simple question about the leased vehicle lol. Thanks for reading and looking forward to hearing from people who have been in a similar situation.
That’s what I thought. It doesn’t make sense to surrender the other vehicle. That one is a purchase vehicle and payment is half of the lease payment.
He doesn’t have great credit. I did and that’s why most everything is in my name. He has some old stuff that he might as well include so we both can get a fresh start and rebuild together. Have equity in other vehicle. Just hope they let us keep it. I can’t believe they would make us give back both cars. We need to be able to get to work! That car payment is under $400 so is affordable.
Answer also can change depending on community property (depending on state)
All Cosignors / Join still 100% responsible unless they file
Are you 'Judgement Proof' where they can win a judgement - but cannot execute it on anything?
i.e. Amex wins 17K lawsuit obtains a judgement -
Do you have equity on home they can lein against? that wouldn't be exempt?
Worried about wages being garnished?
You can always BUY TIME WITH MOTIONS