If my ex-husband files for bankruptcy on our co-owned home, will it affect me?

He wants to take on the debt solely before it goes into foreclosure.

Asked on July 31, 2012 under Bankruptcy Law, Louisiana


Terence Fenelon / Law Offices of Terence Fenelon

Answered 8 years ago | Contributor

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.

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