Q: My husband and I had a joint bank loan as a second mortgage on our house. The loan amount covered consolidated credit ca
Cards from each of our own. I paid my balance off and explained to him what he owed. He has made his payments but now he borrowed more to once again pay off his ccs. We r falling apart so how do I keep from having to pay this bill?
A:
In situations involving joint financial liabilities, such as a shared bank loan, both parties are typically responsible for the debt. If your husband has increased the loan amount without your consent, you should immediately contact the bank to discuss the situation and understand your rights and responsibilities under the loan agreement.
Consider consulting with an attorney to explore your legal options. This is especially important if you are considering separation or divorce, as the division of debts is an important aspect of these proceedings. An attorney can advise on how to protect your financial interests and potentially disentangle yourself from joint financial obligations.
It's also crucial to document all communications and transactions related to the loan and your husband's credit card debts. This information can be vital in legal proceedings or negotiations with the bank.
Remember, early intervention is key in financial disputes. Addressing the issue directly with the bank and seeking legal advice can help you navigate this complex situation more effectively.
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