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Brenda M. Smith
Guest
I live in Kansas. I told my husband 2 weeks ago that I want a divorce. He plans to move out in about 1-2 weeks when the kids start school. I have been looking for a used car. I need reliable transportation to take the kids to school etc. I think I may purchase a car on Monday the 14th. My question is......... Who's name should be on the car loan? I have pre-approval from my credit union. I work full time and can qualify with only my income. If I sign the loan myself I believe I will be responsible for all the debt. Will he be eligible for half of the value after I file and it comes down to dividing the property. Will it be considered community property? I am afraid that he will have half the value but none of the debt. I was told by the credit union personnel that if the names on the loan need to change for any reason that I would have to go through the re-crediation process all over again and could be subject to a new (higher)interest rate. I will have considerable more expenses when he moves out, due to needing child care and I may not quality. Thanks for you help.