Tuesday, May 6, 2014

My husband and I divorced 2 years ago. In mediation (done without lawyers), I have no rights or responsiblities to the boat we shared. Howev...

Question

My husband and I divorced 2 years ago. In mediation (done without lawyers), I have no rights or responsiblities to the boat we shared. However, now the boat is broken, $5000 to fix, its worth is $8000. We owe $15000. He is consulting a lawyer to go bankrupt as he has a credit card debt. I don't want to do that. I have no debt. My name is on the Promissory note for the boat. We don't own the title because we don't own the boat, so I couldn't take my name off of it in the divorce. Do I still have share this problem with him or will the divorce papers 'save me' from this nightmare?



Answer

Such debts should have been resolved in the marital settlement agreement or dissolution order. Specific advice must be based on the terms of such agreement, the promissory note, and other related documents. If you truly have no rights or responsibilities regarding the boat after the dissolution, your former husband has in effect assumed such debt responsibilities; therefore, you should not be required to file a joint bankruptcy petition. Advice: you and/or former husband should discuss the matter with a bankruptcy attorney; an attorney who may be representing your husband in the Chapter 7 petition can advise him.



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