Posted on: 17th Sep, 2008 12:50 pm
my ex is filing bankruptcy with my name still on the mortgage and some other loans...will i be responsible for this debt? he wasn't able to refinance to get my name off. how will this affect me, i can't afford his debt.
Hi jstevensen!
If your ex-husband is on the mortgage, then his credit score will be affected if he files bankruptcy and does not continue paying for the loan. If you have your name on the mortgage and if you keep on paying the loans, then you will not be affected. Moreover it is also important to know what type of bankruptcy is being filed by your Ex – Chapter 7 or Chapter 13. Depending on the chapter and the state laws, you may be able to protect your home even though your ex may file bankruptcy.
If your ex-husband is on the mortgage, then his credit score will be affected if he files bankruptcy and does not continue paying for the loan. If you have your name on the mortgage and if you keep on paying the loans, then you will not be affected. Moreover it is also important to know what type of bankruptcy is being filed by your Ex – Chapter 7 or Chapter 13. Depending on the chapter and the state laws, you may be able to protect your home even though your ex may file bankruptcy.