What happens to loans when you divorce?
Table of Contents
What happens to loans when you divorce?
Debts are dealt with in a property settlement which outlines how assets and debt will be divided. A property settlement can be negotiated outside of court, or if a couple cannot come to an agreement then a court can determine a property settlement for them.
How do I get out of an underwater car loan?
How to get out of a car loan and get rid of the carTrade it in. This is only advised if you find a car that is priced sufficiently below its value to make up for your negative equity. Sell it privately. Refinance. Pay it off. Make extra payments. Make payments every two weeks. Cancel any add-ons.
What can you do with an underwater car loan?
It’s sometimes called being underwater on the loan. So, if your car’s worth $10,000 but your loan balance is $12,000, then you’re $2,000 upside-down. If you want to get rid of your car, you’ll not only have to sell or trade it in, but you’ll also have to pay the lender $2,000.
