Legal Question in Bankruptcy in Georgia
Getting a divoice and i had co sign for hubby to get a jeep which was repos the other day because he couldn't make payments. he is thinking about filing bankrupe, if he does they will clear his debt but will i have to pay the difference when GMAC sells auto and have to pay the difference
2 Answers from Attorneys
Yes.
They can come after you (and likely will), and this is an issue that you and your lawyer must address in the divorce, as you have a huge problem.
Any time you are co-signed on a debt, both parties are equally responsible for the debt. If one party files for bankruptcy, the creditor will more than likely collect from the other party. You may want to consider filing for bankruptcy also. When a debt is discharged in bankruptcy, you are no longer legally responsible for the debt. Please feel free to call my office with any questions.
Thank you,
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