Am I left holding the bag if I get a divorce for loans taken out in my name?
Question Details:
During our marriage, my husband has taken loans under my name (which I signed) for various projects. It wasn't until recent that I found out he's been using the money for other means (supporting another woman in China) than the original reason he gave me. If I were to file a divorce, will I be stuck with the loans since it is under my name?
If you can show the probate court that the debts were for joint marital expenses, then the court can order that he has to repay some or all of the debts.
However, even if the probate court orders that he pays everything on all of the loans, the creditor can still sue you personally and demand that you pay the loans. The fact that the judge has ordered him to pay them doesn't mean anything. Sure, you can bring an action against him in divorce court to force him to pay it, but it won't stop the creditor from coming after you.
