Legal Question in Credit and Debt Law in Colorado

I have a car in my name for my husband... We are divorcing and he wants to keep the car. He doesn't have good credit and is not on the loan. If we sign a notarized letter saying he is responsible for the car am I still liable?

Asked on 1/06/17, 7:44 am

1 Answer from Attorneys

Stephen Harkess Colorado Legal Solutions

Of course you can. Your finance company isn't part of the divorce. You promised the finance company you would pay the loan. They don't want to loan to someone with bad credit (such as your ex). They aren't bound by your agreement. All you are doing is giving yourself the ability to sue your ex. You will have to decide whether you want to take that risk.

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Answered on 1/06/17, 11:20 am

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