Q: I just got divorced a few months ago and my husband wants to declare bankruptcy
- will I be forced into bankruptcy too if he files on loans of jointly owned property?
A:
The answer depends on the type of bankruptcy he files, and what he does with regard to the joint loans. If these loans are secured by a house or car which he intends to keep, it is likely that he will have to continue to pay them. On the other hand, if he is letting the property go, and not paying, you could get stuck with them.
Another question is what, if anything, was said in the divorce settlement about paying these debts.
You may want to sit down with an attorney to review the situation in more detail than is possible here.
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