QUESTION
Will my ex’s bankruptcy affect me in any way?
Asked on Dec 23rd, 2015 on Bankruptcy - Michigan
More details to this question:
He’s filed. I’m not in the same state. Both names are on the home. We have a written agreement filed with divorce court that he would pay, etc. I’ve contacted the bank. Taxes and payments are current. Bank is not sure of his intensions about the home and he will not contact me. What should I do and what are my rights?
7 ANSWERS
Bankruptcy Law Attorney serving Austin, TX
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Law Office of Susan G. Taylor
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The bank is not obligated to honor your divorce decree; if your ex-husband defaults on the mortgage, the bank can pursue you for any deficiency once it forecloses. Your only recourse would be to sue your ex under the divorce decree or file bankruptcy to escape any liability his bankruptcy causes you to incur.
Answered on Jan 18th, 2016 at 10:41 AM
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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The effect of your ex's bankruptcy on his liability for the joint mortgage depends on the terms of your divorce decree including the agreement on the mortgage. If the decree specifies that his obligation to make the payments is a support obligation, then the agreement survives his bankruptcy and you can still enforce it by having him declared in contempt of court by the divorce court. If it's not a support obligation then he's no longer required to pay on the mortgage and you'll be solely liable.
Answered on Jan 14th, 2016 at 3:30 AM
You need to be meeting with a bankruptcy attorney right away, not taking advice from a free online forum. Your right to have your mortgage paid for by your ex may be completely eliminated if he filed a Chapter 13 bankruptcy and if your divorce paperwork wasn't crafted carefully. If I were representing your ex, I would want you to think that everything was okay until the guillotine hits your neck and there is nothing else you can do.
Answered on Jan 13th, 2016 at 4:58 AM
Bankruptcy Attorney serving Madison, WI
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Richard B. Jacobson & Associates, LLC
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Generally speaking, a debt assigned to a spouse in a divorce decree is non-dischargeable in a bankruptcy. Good Luck.
Answered on Jan 13th, 2016 at 4:57 AM
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If the home is current, I'm sure he plans on keeping it. Regardless, if he defaults you are allowed to go into family court and seek damages to the extent the bank comes after you or your credit is damaged. He cannot discharge his obligation to indemnify you so long as he filed a chapter 7.
Answered on Jan 13th, 2016 at 4:57 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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If he does not pay you are liable to the bank, and will have to preserve your rights in bankruptcy in order to enforce the divorce agreement. See an attorney.
Answered on Jan 13th, 2016 at 4:57 AM
Contact a lawyer for a face to face meeting. No one can advise you properly without looking at his complete BK file (an experienced BK lawyer can access that file from his or her office). Good luck!
Answered on Jan 13th, 2016 at 4:57 AM