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MY WIFE AND I GOT DIVORCED 7 YEARS AGO. JUDGE GAVE HER HOUSE AND PAYMENT FOR IT. SHE JUST FILED CHAPTER 13. ARE THE CREDITORS GOING TO COME AFTER ME FOR HOUSE PAYMENTS? IS THIS GOING TO GO AGAINST MY CREDIT RATING? SHE COULD NOT REFINANCE HOUSE SO THE LOANS AND HOUSE ARE IN BOTH OF OUR NAMES STILL.
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Bankruptcy Attorney serving Burbank, CA
Partner at
Law Office of Mark J. Markus
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This may depend in part on the laws of your state, but in general a divorce court allocation of debts only affects the two parties to the divorce, not anyone else. In other words, if you were liable for the house payments or other debts before you were divorced, you're still liable. The only difference now is that you may have rights and remedies against your ex-wife for failing to pay.
Additionally, of course, if the house payments are not made, the creditors secured by the house have a right to foreclose as well as possibly seek recovery for any deficiency after sale, but that really depends on the type of loan and the laws of your state.
Mark Markus has been practicing exclusively bankruptcy law in California since 1991. He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization, AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.
Answered on Sep 13th, 2013 at 1:10 PM