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.
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?
your husband will be liable only if his name appears on the loan or mortgage documents as a co-guarantor of the loan
Goes on your credit as a repossession.
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 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.
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.
Both of you, together and individually!
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.
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.
no if you did not sign anything
Hopefully, You were not maried when the loan was given, You should see an attorney.
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.
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.
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
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.
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.
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.
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.
3 words: Sell the house.
IT'S LIKE DEFAULTING ON ANY OTHER HOME LOAN. YOUR NAME WILL GO INTO THE CREDIT BUREAU IT WILL AFFECT YOUR CREDIT SCORE AND NOT BEING ABLE TO PURCHASE ANOTHER HOME/CAR.
If you didn't sign the mortgage then it will not be reported on your credit record.
Loan Laure's birth name is Laila Loan Kacemi.
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.
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.