Only if her name appears on any finance documentation to do with the vehicle or if the loan was secured on the property they will have a hold on it, meaning they can lawfully have the property sold to recover their loan and any "reasonable" expenses associated with itNo your wife cannot be held liable for a debt she hasn't signed for.

If you default on your loan your creditors doo have the option of taking you to court and if you default on the judgement they can apply for a charging order on your property.

This does not mean they can force the sale of the house.

If you keep making payments on the debt they won't do anything. If you are struggling to make payments, pay what you can afford. Speak to your creditors. Get some reputable advice.If you have the car on HP, check the agreement. If you have paid half of the original purchase price, you can hand the car back and owe nothing. They are not keen to do this but are legally obliged to do this. I have done it.
If you have, write to them telling them you wish to hand the car back and ask them to notify you of how you might do this.
Look at the small print on the agreement.Since this is a debt that you took on before you met your Wife even if you live in a community property State she can not be held responsible for it.

Now, this can not keep the finance company coming after you in court and seeking a judgment. If they do this they can attach bank accounts, garnish wages (if your State allows it) and file liens on any real property you may own like cars, boats, land and homes.

If they file a lien on your home they can not take your home but neither can you sell it without paying them off out of the profits.

I have included a link so you can look up the statute of limitations for your State. If the S.O.L. has passed and they still sue all you have to do is show up in court, point out that the debt is time barred and the case will be dismissed.

Good luck.My advice would be to face this problem head on – rest assured there is bags and bags of help out there for you – so please dont stress too much.

What is important is that you seek out help from the proper sources. Your first port of call is most definitely your CITIZENS ADVICE BUREAU. – They will have specialist caseworkers who are experts in debt and sorting out debt.

They will be able to renegotiateon your behalf an amount whiich is more affordable each month, even if this is a nominal amount e.g £10.

Please go see your Citizens advice bureau – be persistent and wait in the long queues because this is solution that really works and you wont be ripped off by charlatan loan or so – called "debt advice" companies on the internet / tv.

When you visit there will probably be a long queue based on a first come first served basis so you will have to come early and be patient. When you come, you should bring all the paperwork relating to your loan – e.g – 1) the loan agreement 2) all letters you have received from them since. A caseworker will see you and talk to you about your problem.

After your initial interview, the bureau will then be able to be in a position to take your case on and help you out. And most importantly – give you a solution that helps you.

Make this a priority – the first thing you do tomorrow morning.They can repossess the car since the loan has not been paid off and your credit will be ruined. Physical possession of the title does not release you from payment. The title should have their name as owner or lien holder.

 

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You were able to buy a house with cash, but you refuse to pay off a finance company debt? where is the logic in that? you wife cannot be held liable, but the finance company can still take you to court and possibly garnish your wages if they winNormally any debt you had before the marriage remains your debt. If she's not any of the paperwork for the loan for the car she shouldn't be part of the debt.
If you didn't use your house as collateral for the loan then she's clear.The company can not come after your wife SOLELY but can try to freeze any bank accounts you have together, or put a lien on your house (depending on the state) that says if you sell your house, you have to pay them the owed amount. If you are concerned they will freeze your bank accounts, remove your name from the account or have your wife open up an account without your name on it to hold extra money in. I don't know how it works when you are in the UK but if your house if in the USA and your bank accounts are US bank accounts then these are definitely options for your debtor.If yours is the only name on the deeds, then legally the house is yours, and yes, there could be a charge against it. If it has joint names, I don't think it could be forcibly sold.

The debt for the car is yours, not your wife's. Only you have the obligation to pay. However, the finance people could make life unpleasant by constant harassment, to the point where she would be afraid to answer the door or the phone.

Sit down with your wife and figure out some way to cut costs, and use the savings to whittle down the debt until it is gone, one burden less off both your backs. Check their interest rate, and see if there is a cheaper alternative, perhaps at your credit union. Make a big effort to get rid of this loan – you will have great peace of mind afterwards.
Look on it as a challenge. You CAN do it.

 

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