Q: Can I file chapter 13 bankruptcy on 2 loans that my ex Cosigned on if my divorce decree states I will take on the debt?
My ex-wife co-signed a personal loan and vehicle loan while we were still married. Our divorce recently finalized and in the divorce decree it states that I will take responsibility for both loans. I am past due on both loans due to loss of income. I had to switch jobs due to medical issues.
I want to include both loans in Chapter 13 bankruptcy but I want to know if there are any legal repercussions as a result. My ex-wife is a vicious person and her mother and father will gladly pay way too much money to a lawyer if it means hurting me even in the slightest. If I file chapter 13 bankruptcy and agree to repay both loans through bankruptcy will her name be removed from the loans and will there be any legal actions she can take against me?
This needs the attention a good, local bankruptcy lawyer.
On general principals a Chapter 7 can discharge your obligations, but that does not discharge the debt on her part--she still owes it. Depending on the terms of your divorce decree it is possible that the divorce court could still order you to pay it.
On the other hand, the 13 might work out, but nothing "removes her name" short of payment or her discharge.
You can include the loans and if you complete your bankruptcy then you will no longer be personally liable.
Since the bankruptcy does not include your ex-wife then she will still be liable.
She can file against you in family court if these were debts were assigned to you in the divorce and the creditors are now attempting to obtain payment from her or if this negatively impacts her credit.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.