Results 1 to 2 of 2
  1. #1
    Join Date
    Jul 2011

    Default Divorced and Ex is Filing Bankruptcy on Joint Debt

    My question involves bankruptcy in the state of: Washington. My ex is filing bankruptcy ch. 7 or 11 (undecided) and one loan he will be adding is a joint loan he has with me (his ex-wife). I am concerned about my credit and how this will affect me. Will I be solely responsible for the debt in the eyes of the creditors? Specifically, this loan is technically set up as a "credit card loan", yet it is for two motorcycles and gear; which some creditors are considering it a "collateral loan" and therefore will not re-finance it. So, I'm wondering what my options are here... I would really like to save my credit, but this is a really unfair situation. (we do have it lined out in the divorce decree that he is responsible for "x" amount of debt for this loan; not sure if this helps).

  2. #2
    Join Date
    Apr 2009
    Somewhere near Canada

    Default Re: Divorced and Ex is Filing Bankruptcy on Joint Debt

    Unfortunately, you're likely going to be on the hook.

    The creditors aren't party to your divorce decree; if your ex discharges the loan they're going to come after the co-signer (you).

    1. Sponsored Links

Similar Threads

  1. Chapter 7: Filing Joint Bankruptcy While Unemployed
    By ooogha in forum Bankruptcy Law
    Replies: 6
    Last Post: 06-08-2011, 01:13 PM
  2. Banking: Consumer Privacy of Non-Bankruptcy Filing Joint Tenant
    By msb1388 in forum Personal Finance And Investment Law
    Replies: 1
    Last Post: 04-16-2011, 03:49 PM
  3. Chapter 7: Ex Filing for Bankruptcy on Joint Accounts
    By Vickey0726 in forum Bankruptcy Law
    Replies: 1
    Last Post: 04-06-2010, 09:39 PM
  4. Loan Agreements: Removing Joint Account Holder Before Filing Bankruptcy
    By bleach1977 in forum Debts and Collections
    Replies: 1
    Last Post: 12-14-2009, 06:11 PM
  5. Chapter 7: Ex Spouse Filing Bankruptcy On Joint Home
    By Lilo1119 in forum Bankruptcy Law
    Replies: 1
    Last Post: 06-13-2008, 05:34 AM
Sponsored Links

Legal Help, Information and Resources