Q: how do i get my name off a joint loan with ex husband
my name is on a joint loan with ex husband. how do i get my name off. he's ruining my credit by not paying. divorce decree stated he is solely responsible for repayment.
A: You can talk to the lender, but lender likely will not agree to take you off. So the loan would have to be refinanced. If ex won't refinance or pay, then file with the court to have ex held in contempt. Talk to your divorce attorney, or use the Find a Lawyer tab to retain a local divorce attorney to assist, although court action is currently suspended because of the virus lockdown. You can also file a statement with the credit reporting bureaus explaining the circumstances. Check their web sites or how to do that. It might or might not help your credit. The damage might already be done.
A: Generally speaking, a refinance of the loan or sale of the property are the only ways to get a name off a loan if the bank is unwilling to do it voluntarily. A call to the bank is always a good first step, then to the divorce attorney who helped with the divorce.
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