QUESTION
My wife cosigned for a vehicle, what protection rights do I have for a loan in my name?
Asked on Jan 22nd, 2013 on Bankruptcy - Delaware
More details to this question:
How can I protect my property, car? I did not sign loan for this car.
2 ANSWERS
This question is a little unclear. You say you did not sign for the loan, but you also say the loan is in your name. It may be irrelevant, if you live in Wisconsin, your wife signing binds you to the debt as well. Wisconsin is a community property state. I cannot say how your can protect your property since I don't really know what the situation is that you are referring to.
Answered on Apr 10th, 2013 at 2:56 PM
Estate Planning Attorney serving Wilmington, DE
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Your car is not in danger unless you fail to pay payments. Your wife could be sued for the loan on the other vehicle but as long as your name alone is on your vehicle creditor cannot touch it.
Answered on Jan 23rd, 2013 at 12:43 PM