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Posted in Auto Loans
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brileay29

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I'm getting divorced and I'm taking my name off the car with this help or hurt my credit.
Me and my ex husband got a 2009 car in 2010. I'm finally filling for divorce and getting my name off the car. Will this hurt or help my credit score? My debt to income will be a lot better.

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Not so fast

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A divorce does not release you from your obligation to repay the joint auto loan you have with your ex. Even if he is awarded the car by a judge, you are still jointly responsible for the joint debt. So in essence your debt to income will not improve. The only way you can be relieved from this debt is to pay off the loan, or have your ex refinance the loan without you on it, then your debt to income will be better. 

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