How will a voluntary repossession affect my credit?

Question

I took out an auto lease for my husband to get a car last july.

(i paid $4000 down for him to get an lease car..still remaining 21 payments amount of $500 per month..)

But i am getting a divorce with him without attorney (actually i am filling marriae nullty because of fraud..also there is no way that i can contact with him..he just left from me and took the leased car.. he is immigration.. tried to get green card through me..) He failed make a payment for two months also didn't pay for the insurance for a while.. I am a full time student..i can't handle his car payment.. I called Cops but they can't help me because it's a regaI matter..so I called the car finance company in this morning and they told me i can sign up for the voluntary reposseeeion. Do you think sign up for voluntary repoesseion is best way for my situation? also how will a voluntary repossession affect my credit?? any penaly??should i wait for the divorce result? please help me..sorry for the bad g

rammars.

Answer 1

get yourself an attorney. call your local bar association,they can  reffer you to an attorney that may help you at reduced rates,or sometimes for free.

also start calling your local women's rights agencies,they may also advise you on where to obatin free legal counsel.

Answer 2

Sounds like voluntary repossession is your best option.   He is already hurting your credit.  If he continue not to make payments or worst yet get into accidents, it is you on the line.

You should also contact credit card bureaus, chances are he has your social security number and can do further damages.

Best wishes.