matrimonial debt

[Barbara49]

I have a car loan and due to a marital split, I have to surrender the car to the financial institution. I know that I will be liable for the difference between the fair market value of the car and the principal balance of the loan. Questin: my spouse drove the car to and from work each day (40km) and the payments came from our joint acct. Is he liable for half the balance of the outstanding loan amount? Thanks

 

[lwpat]

That will be something to settle in the divorce.

 

[Theresagail]

If he is a signer on the car loan note, then yes he is responsible-- If he is not then no, as far as the loan company is concerned