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  1. #1
    Join Date
    Jan 2013
    Posts
    1

    Default Divorce Debt and Bankruptcy

    My question involves a marriage in the state of: North Carolina

    When my ex and I divorced, we agreed to separate our debt on our own. She took the upside down house and I took the credit card debt. The credit card was originally hers, when we married she added me to it, and when we divorced, she took me off of it. We agreed that she wouldnt close the account and would continue to use the card, but then agreed that the balance on the day we separated would be the total that I owed. We agreed on an interest rate, monthly payment, and an amortization table that was included in the divorce paperwork. In short, I paid $250 a month directly to the bank for 4.5 years on her card and she kept it open and used it, but my debt was settled then that original amount plus interest was paid.

    Its been 2 and a half years since then and she informed me last night that shes filing for bankruptcy that includes that card. She has asked me to continue to make those same payments on the principle amount still owed on the credit card debt into a trust for her daughter to pay for college.

    I would like some clarification on a few questions:

    Am I actually out from under the debt of the credit card with her bankruptcy filing since its not in my name? Or does the divorce agreement still hold me responsible for the balance due on my agreed upon debt?

    What kind of paperwork would I need to get, and from who, to legally confirm that Im not responsible to pay the bank on this debt?

    If i dont agree to her request for the trust, do I owe anything at all to her or the bank after her bankruptcy is final?

    Thanks for the help

  2. #2
    Join Date
    Oct 2006
    Posts
    16,474

    Default Re: Divorce Debt and Bankruptcy

    Quote Quoting redsand06
    View Post
    My question involves a marriage in the state of: North Carolina

    When my ex and I divorced, we agreed to separate our debt on our own. She took the upside down house and I took the credit card debt. The credit card was originally hers, when we married she added me to it, and when we divorced, she took me off of it. We agreed that she wouldnt close the account and would continue to use the card, but then agreed that the balance on the day we separated would be the total that I owed. We agreed on an interest rate, monthly payment, and an amortization table that was included in the divorce paperwork. In short, I paid $250 a month directly to the bank for 4.5 years on her card and she kept it open and used it, but my debt was settled then that original amount plus interest was paid.

    Its been 2 and a half years since then and she informed me last night that shes filing for bankruptcy that includes that card. She has asked me to continue to make those same payments on the principle amount still owed on the credit card debt into a trust for her daughter to pay for college.

    I would like some clarification on a few questions:

    Am I actually out from under the debt of the credit card with her bankruptcy filing since its not in my name? Or does the divorce agreement still hold me responsible for the balance due on my agreed upon debt?

    What kind of paperwork would I need to get, and from who, to legally confirm that Im not responsible to pay the bank on this debt?

    If i dont agree to her request for the trust, do I owe anything at all to her or the bank after her bankruptcy is final?

    Thanks for the help
    I would be more worried about how that upside down house is going to impact your credit if she files bankruptcy, before I would be too concerned about the credit card debt.

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