Can Creditors Come After Me For Debts That My Ex Was Ordered To Pay After Our Divorce?
My answer to this frequently asked question is, it depends. It depends on the lender and how the lender wishes to proceed. Basically, even though the court has ordered your spouse pay the debt, that order only serves to make your spouse legally liable for the debt. From the lender’s perspective, the agreement for the loan was signed by both of you and so therefore, both of you, equally, are responsible for this debt.
The important part to note is, if your name is on the debt you will still be responsible for this loan, or for this debt, until 1) either it has been paid off completely or 2) you’re able to remove your name from the account. So if your spouse fails to pay the debt the creditor may come after you for the debts that are owed.
The best way to protect yourself is to do whatever is necessary to take your name off of the account. That can be done through a refinance, or by paying the loan in full. If you are unable to get your name off of the loan for whatever reason, then the next best thing for you to do is to simply be vigilant. Make an effort to stay informed in all aspects regarding the debt until it is paid. Make sure that the creditor or lender has your telephone number and any other contact information necessary so that you can continue to receive statements and notifications in case there is a late or missed payment. If you have moved from the marital residence, make sure to also update the creditor or lender with your current address. These efforts will help to protect your credit.
I wish that there was something different that you could do to protect yourself but, unfortunately, as I stated before, a court order does not legally obligate a creditor or a lender or anyone that you owe money to from coming after you if your name or signature is on that debt or loan.
If you have any further questions about this or any other Family Law topic and need more clarification, contact our office today to schedule a consultation. We will be more than happy to sit down with you and answer all your questions in hopes of helping you out of your situation. Our office can be reached at (702) 998-1188, info@ljlawlv.com, or by scheduling an appointment via our online scheduler.
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