QUESTION
What can I do to get him out so I can sell it or can I even do that?
Asked on Aug 13th, 2017 on Bankruptcy - Oregon
More details to this question:
In 2010, my boyfriend and I bought a house and land contract but a promissory note was used and we both signed it. In 2011, we split up and for the past 6 years he’s had the house and has been making the payment as they seem to be now reporting to my credit bureaus since 2015. Now in 2017, he’s filed bankruptcy on the house but is still living there. I’d rather be off the note myself. Is it now void or am I solely responsible? He had originally let me know the house wasn't on his bankruptcy but it was. He’s had his meeting of creditors and is still there so far. I saw my credit score drop from no payment from him.
3 ANSWERS
There are a lot of issues here. Speak to an attorney face to face. Any attorney worth their salt will charge you for the consultation. Good luck!
Answered on Oct 23rd, 2017 at 10:40 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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As a co-signer, with his bankruptcy you?re solely liable for the promissory note. You can start an action to force the sale of the property or you can wait for the lender to foreclose on it.
Answered on Oct 23rd, 2017 at 8:26 AM
As a co-signor on the note, you are not relieved of the debt just because he filed for bankruptcy. In fact, the bankruptcy forces the lender to look to you for payment. You should contact the lender for assistance in disposing of the property. If you don't get a satisfactory response, you will need to hire legal counsel for yourself.
Answered on Oct 22nd, 2017 at 3:00 AM