Q: I co-signed my husband's car, and he refuses to pay for it and is hiding it. He now said he abandoned it. What do I do?
Could the judge do anything about the bank coming after me for the car loan?
A: You remain liable for the car loan. The judge will not allow that as a defense. Your husband may be liable to you for the money that you pay for the loan.
A: As a co-signer, you owe the full balance of the loan. Your husband's actions are no defense. If both you and your husband are co-defendants in a lawsuit, you can file a cross-claim against your husband if your arrangement was that he was to pay for the whole loan, and then you'd have a judgment against him for whatever money you owe to the loan company. If you are the only one sued, you can join your husband as a defendant in the suit by filing a third-party complaint against him. If you are still together and not separated, I do not see how this will benefit you, however, from a financial standpoint. You both owe the money because you both signed for the loan, and the loan company can collect the amount due from either or both of you. In a divorce, if that is where you are heading, a judge can allocate debts among the spouses, and enter a monetary award against one spouse and in favor of another spouse as necessary to adjust the equitable division of marital property, debts and assets.
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