I am legally seperated and as part of the property settlements entered, my "spouse' has accepted full responsibility for payments on a boat that was purchased where I co-signed for him. He has since declared bankruptcy, but arranged to contunie to pay for the boat. The issue is that this is appearing on my credit report now as in collections, as there was a lag in payments while the bankruptcy was processing. My question would be is this seperation agreement legally binding to the Lender once they are made aware of this? The agreement was filed in New York and the boat was purchased in NY as well.