Debt and Bankruptcy

If your car was repossessed during your separation but it was bought while you were married are you both responsible for the debt?


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Wiki User
2015-07-15 19:48:08
2015-07-15 19:48:08

Whomever signed the contract is responsible for the balance.


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Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.

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yes you are responsible for the payments because you are married it is a marital asset being bought after you were married so in a legal sense its in both your names regardless of the way its titled

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The person who bought the car didn't make payments so the bank takes it back.

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She probably can especially if she proves that you bought it as a result of wealth accumulated during your union.

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