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debt responsibility in divorce when one files banruptcy

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sherry maxwell Guest	Posted: Tue May 03, 2011 9:29 am    Post subject: debt responsibility in divorce when one files banruptcy Like 0 Dislike 0 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.
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 704 Location: La Palma, CA 9.98 Dollars($)	Posted: Tue May 03, 2011 9:35 am    Post subject: Like 0 Dislike 0 I am not a lawyer and not familiar with Idaho. But I know that when you are a loan, with another, you are jointly responsible. If he is filing BK, I assume he is including the loans and property? You are correct that your name is on loan until paid off. Could you take the property over? I know that in CA, when ex files for BK, it affects others credit. Is the property underwater? _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125
jameshogg Joined: 20 Dec 2005 Posts: 10460 Location: Nevada 987.57 Dollars($)	Posted: Tue May 03, 2011 9:02 pm    Post subject: Like 0 Dislike 0 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

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