What to do about a loan owed to my ex-in-laws?

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What to do about a loan owed to my ex-in-laws?

My ex-in-laws loaned my ex wife and I $34,000 to purchase our house (loan stated minimum payments would be $25/month). My ex was awarded the house in the divorce 3 years ago and now her parents are coming after me for the entire debt. I heard nothing about this for over 3 years and now their lawyer is contacting me saying Iam delinquent and solely responsible for this debt.

Asked on July 6, 2011 under Bankruptcy Law, Michigan

Answers:

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

Answered 9 years ago | Contributor

You are obviously being put the squeeze on by your ex-in laws.  And I think that you need to take the loan documents to your lawyer to review in light of the divorce agreement.  They need to be read hand in hand and really the loan should have been addressed in the agreement a an outstanding marital debt.  Maybe it was in a round about way.  But I am sure that you are jointly liable for the debt.  If they insist on suing you on the matter then you would in turn sue your ex wife for contribution to the loan.  That will not sit well with them but you are I am sure within your legal rights to do so.  Good luck.


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