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Perhaps. If the married couple resides in a community property state, all debts and creditor action apply to both spouse's if the debt was incurred during the marriage. It will also be a factor in any future joint financial transactions the couple may want to make in the future, such as a mortgage loan or a refinancing or equity loan for a home. However the repossession should not appear on the husband's credit report; allthough this is not a certainty, as CRB's are somewhat notorious for their lack of accurate reportage.

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โˆ™ 2006-03-18 17:59:11
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Q: Will a repossession affect my husband if his name is not on the loan?
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Related questions

Can you be on title but not on the loan?

car is in wifes and my name, she got a title loan unknowingly from the husband. She defaulted, can they take the car from the husband?

Will your husband be liable if the Home goes into default and the home is in the wife's name?

your husband will be liable only if his name appears on the loan or mortgage documents as a co-guarantor of the loan

If your car has your mothers and your name on the title but she is deceased how does this affect you if it is repossessed?

Goes on your credit as a repossession.

Can a husband let the wife take over the loan of a house without her having rights to own the house?

If the loan by the Bank than it will be on your name. Do not pay loan if someone else as name to the loan.

If an ex wife takes a car with her name on the loan and does not make the payments can the bank give it back to the husband so he can pay for it?

IF her name is on the TITLE, she can take it. IF the husband is on the loan, he can make whatever arrangements he and the LENDER agree to.

Can a husband take a loan against a house that has wifes name on it also?

All parties on title to the home must sign the loan documents; so, your husband can not do a loan on his own. Some states allow the spouse to sign the note (the debt) but not the deed; that would mean you are on the loan only but not the title; in that case, your husband would be able to encumber the property with another loan in his loan only.

If a loan is in both husband and wifes name who is responsible for the debt?

Both of you, together and individually!

Your husband has 3 acres in his name but not mine will it be difficult to get a mortgage?

It shouldn't affect a mortgage. The mortgage will be based on the credit worthiness, the down payment, the ability to repay the loan of the people who apply for the mortgage.

Is a wife responsible for a repossessed car if husband cannot pay balance due to not having a job?

It depends whose name is on the loan. If it's just the husband, then no. If both names are on the loan, then it affects both people.

If your husband gets a loan for a truck in his name only will you be responsible for the debt if he dies?

no if you did not sign anything

Your husband died last year and you are listed as a co-owner but your name is not on the loan.?

Hopefully, You were not maried when the loan was given, You should see an attorney.

Your husband had a foreclosed mortgage in his name only will it affect your credit?


What can you do if husband took car and car loan is under your name?

Call the bank. Explain the situation. Try to get the loan transferred into his name. If he doesn't co-opperate, call the cops and report it as stolen.

If husband bought car before you were married can they make you pay it off if it is sold by bank and not enough funds to pay off loan?

Your HUSBAND will have to pay the loan deficiency. HOWEVER - if the car was bought before marriage and your name is not on the title OR the loan papers, they cannot make YOU pay any part of it.

If your husband decides to voluntary turn in his car voluntary repossession would this affect your credit if it's only in his name?

No it would only effect you if you had originally co-signed with your husband when he got the car to begin with.......Now, the only way it would hurt you is if you guys try to get another car or a house or anything of that nature, but you individually by yourself are not effected, but when you try to do something together with your husband, then YES!! This will hurt you big time

Does wife credit card affect husband?

If a spouse has a credit card in their own name & the other spouse isn't listed on it, bad credit won't affect the second spouse. But, if you both apply for a loan or other credit - the credit bureau will check both parties credit reports.

Is a joint applicant's credit affected by a car repossession?

If this relates to a joint account holder or cosigner, then yes the person's credit rating will be affected by a repossession. Yes, whoever's name the car is in will be affected by the car's repossession. Only if the car is somehow tied to the account. Only a bad payment history on that joint account can affect your credit.

If a cosigner has been making payments on a car at what point can they legally have the car seized and put in their name?

That would depend on the repossession laws of your state of residency. Or if different, the state where the loan was procured for the vehicle.

Does a parent's credit score affect student loan?

If the student loan is taken out in the name of the student then no. The student's credit score is separate from anyone else's. If the student loan is taken out in the name of the parent or with them as cosigner then yes - their credit scores would come into play.

Your ex-husband and you jointly own a home which he lives in He can't refinance and I don't want to be held responsible for the loan if he defaults How can you get your name off the loan?

3 words: Sell the house.

How will defaulting on your mobile home loan affect you in South Dakota?


Your name is on the deed but not the loan if it goes into default will it affect your credit?

If you didn't sign the mortgage then it will not be reported on your credit record.

What is the birth name of Loan Laure?

Loan Laure's birth name is Laila Loan Kacemi.

What happens to home equity line of credit at death?

The loan will come due in full immediately if it is not a joint loan. If there is another person at the home, say a wife of a deceased husband who had the line in his name alone, they will have to be approved for a loan of their own. You cannot have a loan on property that was approved with another persons income/credit score.

I have an auto loan in my name can i get another auto loan in my name?

If you are already running a loan, then you can take a loan from another bank not from the same bank. If still you want a loan from same bank, then you can get on your parents name.