How do I avoid this situation?

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How do I avoid this situation?

I started a business with my spouse and we both were a personal guarantor on an equipment lease. We since divorced and it was written in the divorce agreement that my spouse would be fully responsible for the equipment lease. Since our divorce the business has failed and the leased equipment has been repossessed by the leasing company. As I was still listed as one of the guarantors Im afraid that the leasing company will come after me even though I explained to them my spouse was responsible. How do I get out of this situation without being brought to court by the leasing company?

Asked on December 16, 2017 under Family Law, Pennsylvania

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

So here is the problem: the leasing company was not a party to your divorce.  And because of same, they are not bound by your agreement with your ex-husband.  That means that they can indeed sue you if he defaults.  Your remedy is to then turn around and sue him based upon your divorce agreement, which is a contract between you.  Good luck.


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