If my ex-husband files for bankruptcy on our co-owned home, will it affect me?
Question Details: He wants to take on the debt solely before it goes into foreclosure.
Terence Fenelon / Law Offices Of Terence Fenelon
Answered 7 months ago
This attorney is licensed in Illinois
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The only way for your ex to "take on" the liability is to pay off the current note. If you are liable under the current note, and your ex files a bankruptcy and receives a discharge without reaffiming the debt, you would liable for the balance owed even after a foreclosure.