Credits contracted together during a marriage must be repaid even after the divorce. It is possible to separate from a debt like a car loan, here are all the explanations about it.
Automobile credit subscribed during the marriage
The car loan is a common financing in households, if the latter is increasingly opted via leasing, it remains nonetheless a debt to repay until its term. When two spouses take out a loan together, they agree on the principle of solidarity to repay it together, even after separation and divorce. Divorce does not erase the principle of solidarity, that is to say that the credits subscribed together continue to be in solidarity even after a divorce.
In concrete terms, if one of the former spouses does not repay his car loan expenses, the creditor can turn to the other spouse, even if the divorce has been pronounced. This is called the principle of solidarity and it is possible to dissociate from a common debt, an action requiring the consent of the creditor.
To separate from a car loan
If you are in the situation of a couple who has divorced or is in the process of divorce, it is important to ask the question of the separation. That is to say, generally, the goods will be more or less equitably distributed, including the vehicle bought together but reimbursed by a credit. If the vehicle is preserved by one of the two former spouses, it is natural that the other seeks to dissociate himself from a debt for which he does not use the good.
The dissociation is done in four stages, it is necessary:
- Obtain an agreement from the ex-spouse who agrees to repay the debt alone, including the full amount of the outstanding capital. It must also state that it undertakes to waive any action against you on the payment of this debt.
- Write an attestation from the spouse who is dissociating explaining that he renounces any action relating to the repayment of the debt
- Obtain an agreement from the lender stating that he accepts the separation. The latter will generally check the solvency of the spouse who takes over the debt and demand guarantees
- Pass in front of the notary so that the latter can perform a notarial deed (fees) which notes the separation (official document).
What if the bank refuses to dissociate the auto loan?
It is common that expenses reimbursed with two salaries are not possible with a single salary, which makes the separation impossible. This refusal of the bank can therefore complicate the situation but there are solutions:
- Resell the vehicle and pay off the loan by early repayment, which allows you to close a debt
- Make a purchase of credits, an operation to consolidate several loans into one, which reduces the final monthly payment.