Note: The DearEsq free 'ask a lawyer' site is offered as a free informational service to the public and is not intended as legal advice. Laws vary from state-to-state, and in addition every situation is unique, and relevant facts may not be known. The answer to the question posed below may not apply to in your state or to your situation. For legal advice in your state and your situation you should consult with an attorney in your state who is familiar with the rules and laws in your state.
“My husband and I have been separated since May of this year. I have not started the legal paperwork yet for a divorce. We are joint co-signers on a vehicle that he kept in his possession after the split. This vehicle was repossessed this past weekend. Can the finance company come after me for wage garnishment or such? Do I have any rights in this situation?”
As a co-signor on a loan, you are obligated to make the payments in accordance with the terms of the contract. As such, the finance company may choose to recover any balance due on the note, which may include more aggressive actions such as wage garnishment. To help protect yourself, you should communicate your situation with the finance company and see if they are willing to work with you. Since the debt isn’t likely to disappear, you may be able to work out some sort of payment plan or settlement option. As far as wage garnishment specifically, the finance company needs to obtain a court order before it can garnish your wages. These are usually granted after a judgment has been awarded against you, and the finance company has located your assets it intends to use to satisfy the judgment. You may also want to contact an experienced lawyer in your area who can better advise you on how to proceed.
