Bankruptcy after divorce, effect on marital real property
My husband and I divorced in October of 2003. He was granted temporary custody of the home and all bills associated with such property until the home was sold. He has since failed to make payments on the home note and the home equity note from November 2003 til present. He filed bankruptcy on February 24,2004. The home is in both our names and so is the home equity loan. He makes over $40,000 per year and only has those two notes plus one credit card debt. Can he do this? What steps should I take to protect myself. I do not want nor can I afford to pay for the home and equity loan. He is in Texas and I live in Arkansas, which is also the state in which our divorce was executed.
1 Answer from Attorneys
Re: Bankruptcy after divorce, effect on marital real property
Where is the home and where is the bankruptcy filed?
You should consult with your divorce lawyer to see what was supposed to be done with this debt. Since the house and the debt was supposed to go to him, it may be that your name was supposed to be removed from the loan. But consult with your divorce attorney for a complete answer.
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