Does bankruptcy after separation overrule debts that a separation agreements protects against?
January 16th, 2006 by Questions
I co-signed a demand loan of 20,000 which was the revolving line of credit at my (now) ex-husband’s law firm. We separated and two years later he declared bankruptcy .I assumed his debt of 17,000 in a second mortgage. In the separation agreement it states that he would “indemnify and save harmless” the ex- wife (me) in regard to this debt for allowing the line of credit to remain on the house for a period of time. Does bankruptcy overrule the separation agreement statement of protection?
Thank you very much for helping me.
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)