Ex files for bankruptcy, do I assume her half of the debt?
May 21st, 2013 by Questions
My ex wife just advised me that she is filing for bankruptcy. How will this affect me? We co own a rental house and have a joint line of credit and a bank account that it currently in overdraft. In our divorce agreement it was stipulated that the house cost (morgage, insurance etc) and line of credit dept would be equally split. The overdraft account is her account and I was just an authorized user. She is telling me that I will now be 100% responsible for this dept…is this possible? What are my rights and what can I do to protect myself?
Posted from: British Columbia
One Response to “Ex files for bankruptcy, do I assume her half of the debt?”
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May 21, 2013 at 10:57 am, A licensed trustee said:
You cannot be held responsible for any debts you did not sign for, BUT any debts you did sign for become 100% yours if/when your ex files for bankruptcy. Your divorce agreement is between you and your ex – it has notihng to do with the people that loaned you the money and is in no way binding on them. Sorry. You may want to speak to the lawyer that assisted with yoru divorce to see if there is any point in returning to Family Court to have the divorce agreement changed.