Not sure if this question should be here or in the law exchange, but basically my dad cosigned my car loan for the purposes of rate reduction (as I had virtually no credit history at the time). My dad didn't put any money down, doesn't pay for any principal, and hasn't paid any of the loan's interest. I pay for everything. For all functional purposes, it is totally my vehicle and he only co-signed so I'd get a lower interest rate. Fast forward a few years and my dad and stepmom are getting a divorce. I don't know the particulars of divorce settlements, but does the fact that he co-signed my auto loan mean that technically it's his asset and would subject to any divorce agreement? If so, how can I amend this? I do not want to be involved in that process whatsoever, particularly financially.
Will a divorce affect my co-signed vehicle?
Runeaway3
- 2.9k
- 6
- 23
- 42