Can my ex husband creditors come after me?
Can my ex husband creditors come after me?
Can his creditors still come after me for payment of his necessary items? Yes. You are still legally married and the creditor could come after you for his debts for necessary expenses, such as medical care, during this separation.
Is an ex spouse responsible for debt?
Due to its community property laws, California courts will rule that most debts one spouse incurs during the marriage become the responsibility of both spouses after a divorce.
Can a creditor come after my spouse?
In a community property state, creditors of one spouse can go after the assets and income of the married couple to make good on joint debts (and remember, in a community property state, most debts incurred during marriage are considered joint debts).
What happens if the person I co signed for misses a payment?
If possible, ask the lender to notify you if the main borrower misses a payment. Of course, it may already be too late. The lender can file a lawsuit against you for any unpaid part of the debt, even if they don’t sue the person you co-signed for.
What happens if the person I co signed for files bankruptcy?
Should the other co-signer choose to file bankruptcy and the co-signed account is discharged, the lender may still hold you liable for the remainder of the balance. 7
Who is responsible for a loan you co signed for?
You are held just as liable for the loan as the person you co-signed for. You would not only have to assume the payments but deal with your lowered credit score at the same time. You’re Responsible for the Debt
What happens to your credit if you co sign for someone?
Such a delinquency will show up on your credit report and affect your credit. You are held just as liable for the loan as the person you co-signed for. You would not only have to assume the payments but deal with your lowered credit score at the same time. You’re Responsible for the Debt