QUESTION
If my ex wife files for bankruptcy, will this affect me?
Asked on Mar 24th, 2013 on Bankruptcy - Delaware
More details to this question:
My ex wife filed for bankruptcy. She doesn't own or rent a home. The only real debt she has is the car she was awarded that's in my name during our divorce 2 years ago. How will this affect me?
6 ANSWERS
The only way it will effect you is if you have any debts with her. If she files bankruptcy on any joint debts then you will become liable for the debt.
Answered on Apr 08th, 2013 at 2:31 AM
Bankruptcy Law Attorney serving Austin, TX
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Law Office of Susan G. Taylor
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If you are on the vehicle loan & she fails to make the payments, you will still be liable for the debt. It doesn't matter what the decree says or that she files chapter 7 bankruptcy. You should consult an Austin bankruptcy lawyer, if you're in this district.
Answered on Mar 27th, 2013 at 2:01 PM
2 Awards
If she doesn't pay on the car the finance company will repossess the car and come after you for any deficiency. Your only remedy is to pay the debt, then take your ex back into family court and ask the judge to make her pay you back. Debts arising out of a divorce decree are nondischargeable in a chapter 7 bankruptcy.
Answered on Mar 26th, 2013 at 2:52 AM
Chapter 7 Bankruptcy Attorney serving Milwaukee, WI
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Law Offices of Deborah A. Stencel
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It depends on what the divorce orders say, what she has done so far, and what she intends to do. Check your credit report. Contact your divorce attorney. Ask your ex (if you can) what her plan is. If the car is still in your name and she plans to quit paying, you might want to pick up the payments to prevent damage to your credit. Again, it depends. Remember the divorce order is just between you two. The car lender doesn't care about that order. As far as it is concerned, you are the responsible party for the loan and if payments are not made, they will repo and come after you. Your recourse would be to take her back to divorce court. It is best for you if you find out ASAP what she plans to do with the car and then talk to your attorney.
Answered on Mar 25th, 2013 at 4:01 PM
Bankruptcy Attorney serving Plantation, FL
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Moffa & Breuer, PLLC
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Your divorce did NOT change who was liable to creditors. It only changed who was going to PAY the creditors, but the creditors are NOT bound by the agreement between the two of you. SO, if you both were liable to a creditor for payment of a debt, after your wife receives her Discharge, YOU will still be liable on any joint debts and, if she is responsible to pay them in the divorce, then she is liable to YOU, not them. The concept can be quite confusing and you may want to ensure that YOUR rights are properly protected if she files for bankruptcy.
Answered on Mar 25th, 2013 at 4:01 PM
Estate Planning Attorney serving Wilmington, DE
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Reger Rizzo & Darnall, LLP
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Only if you co-signed something she is trying to discharge.
Answered on Mar 25th, 2013 at 4:00 PM