If my wife took out a loan without my knowledge or approval, can I be liable for the account?

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If my wife took out a loan without my knowledge or approval, can I be liable for the account?

Can this hurt me in the future upon separation and or divorce?

Asked on March 20, 2011 under Bankruptcy Law, Florida

Answers:

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

Answered 11 years ago | Contributor

Generally speaking, debts incurred during a marriage are assumed to be "marital" debt and one would have to go about proving that it was otherwise.  That is a general rule  remember and there can always be exceptions to a rule.  Now, if you and your wife were to separate and eventually divorce there is nothing that says she can not admit to the debt being hers alone and that you could enter in to a separation agreement indicating such.  That is always an option that you can explore with your attorney when discussing the issues that are involved in this matter.  So do not get so excited about it right now, especially when you really are not thinking of divorce at this point in time.  Good luck to you.


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