Re: X spouse's Chapter 13 hurt my credit report

Posted by John on January 24, 1999 at 08:34:45:

In Reply to: X spouse's Chapter 13 hurt my credit report posted by Robert Gary on December 18, 1998 at 16:43:31:

If you signed to be responsible for the debt, then your still liable for that debt regardless of who the court determines responsible to pay it. The same on a mortgage. If one spouse gets the house and the court says they pay the mortgage, all the parties that signed the mortgage are still responsible to the lender until the debt is paid off. Even if you were to quit claim your rights to the property, your still liable to the lender UNLESS the lender gives you a release of liability. Which they would have no incentive to give you since your already equally responsible.

The only thing you can do is either pay off the debt to protect your credit and take your spouse back to court and get the judge to order your spouse to pay you for the debts you had to pay that she was responsible for. Or you can go to court first and see if you can restructure the settlement somehow by you taking over the credit card debts. Otherwise your stuck with it! Of course you could always file bankruptcy, but that would be as a last resort.

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: If you signed to be responsible for the debt, then your still liable for that debt regardless of who the court determines responsible to pay it. The same on a mortgage. If one spouse gets the house and the court says they pay the mortgage, all the parties that signed the mortgage are still responsible to the lender until the debt is paid off. Even if you were to quit claim your rights to the property, your still liable to the lender UNLESS the lender gives you a release of liability. Which they would have no incentive to give you since your already equally responsible.

: The only thing you can do is either pay off the debt to protect your credit and take your spouse back to court and get the judge to order your spouse to pay you for the debts you had to pay that she was responsible for. Or you can go to court first and see if you can restructure the settlement somehow by you taking over the credit card debts. Otherwise your stuck with it! Of course you could always file bankruptcy, but that would be as a last resort.


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