Financial Problems in MarriageWhen financial times are tough, it adds to the stress we deal with on a daily basis. This section is for talking about how financial problems affect our relationships and ways to cope.
I am going throught the first stages of my divorce. The question I have is my truck is in my wifes name not mine at all. I had my first truck in my name but sold it to buy a new truck and the interest rate was a lot lower with it just being in her name. So now that we are getting a divorce she wants me to get the truck in my name but I cant because I am going through a bankruptcy and the interest rate will be way to high for me to afford the truck now. So what am I supposed to do? I want the truck I just cant afford it with my interest rate..... So through the divorce cant it stay in her name and I make the payment? How is this supposed to work? Any help would be nice.
The truck might have to be one of the things lost in the divorce. If the truck loan stays in her name, she's the one who has her credit hit if you miss a payment. If I was her, I wouldn't leave it in my name. Is there someone else that would be willing to do that for you? Family?
PBear is right. You will have to get the truck in your name unless you and your soon-to-be-ex wife come to an agreement and that doesn't sound like it's going to happen. Her credit is at stake as PBear mentioned, as well as her debt-to-credit ratio. Quite frankly, I wouldn't want a large loan on my credit that doesn't belong to me.