Posted on: 03rd May, 2011 09:29 am
We are divorced however my name remains on the first and second loan until sold, He is filing for bankruptcy. How will I be affected. Idaho Law.
I am not a lawyer and not familiar with Idaho. But I know that when you are a loan, with another, you are jointly responsible. If he is filing BK, I assume he is including the loans and property? You are correct that your name is on loan until paid off. Could you take the property over? I know that in CA, when ex files for BK, it affects others credit. Is the property underwater?
Hi sherry,
If your name remains on the mortgage, then you will be liable for paying the mortgage if your spouse files bankruptcy. The lender will come after you in order to recover the debts.
Thanks
If your name remains on the mortgage, then you will be liable for paying the mortgage if your spouse files bankruptcy. The lender will come after you in order to recover the debts.
Thanks
