Q: Hey I bought a car jointly with my girlfriend. We have since broke up and she’s about to claim bankruptcy. What options?
I now have the car we figured I would just switch it in my name when it’s paid off. The interest is really high on it though. I am able to still pay it off but my credit is not high enough to put it in my own name, or to even get a refinance. But when she claims bankruptcy does that affect my credit with a bankruptcy? And will they still take my car? I’m kind of just trying to see my options when it comes to this because I wouldn’t mind letting the car go but it depends on at what cost to my credit if it is worth it or not. Thanks, Alex
A: Unless there is equity in the car, it won’t matter. Even then, she can protectabout $3,560 in equity. If you keep paying for it, you should be able to keep it.
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