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socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 38502
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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Hello, I am in the midst of a divorce, my soon to be ex wife

Customer Question

Hello, I am in the midst of a divorce, my soon to be ex wife as filed bankruptcy on her assets which include a SUV registered in my name only and both of our names are XXXXX XXXXX home mortgage.The SUV loan account in closed but current, she has stated she is going to "turn it in" to the bank.Is there anything I can do to keep this off my credit, I do not want or can afford the suv.I have placed a finiancial restraining order on her when she was served with divorce papers.She abanded the home on June 21 2009. Thanks
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  socrateaser replied 7 years ago.

If the SUV account is closed, then there's nothing to pay off, so it can't affect your credit. And, the bankruptcy can't be recorded on your credit report, unless you file bankruptcy. So, as long as the mortgage remains current, there would be nothing to negatively affect your credit.


At least, not so far.


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Customer: replied 7 years ago.
Sry I fogot to mention that there is still money owed on the SUV. Yes the account is closed but is current in payments, she is still planning on turning it in.
Expert:  socrateaser replied 7 years ago.

I don't know what you mean by "turn it in," but it can't affect your credit unless her name is XXXXX XXXXX loan.

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Customer: replied 7 years ago.
Both of our names are XXXXX XXXXX loan, the SUV is registered in my name only.By "turning it in" I mean that her intent is to give it back to the bank, like a repo.
Expert:  socrateaser replied 7 years ago.

She can't give it back to the bank, as long as the payments are current, and without your signature on title.

Customer: replied 7 years ago.
She is planning on filing chapter 7, what happens if she quits making payments on it? She has aquired 10s of thousands of dollars in cc debt in her name only since she abanded me.
Customer: replied 7 years ago.
Not sure if u recieved my last question.
Expert:  socrateaser replied 7 years ago.

Nothing will happen as long as you don't stop making payments.

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