Legal Question in Bankruptcy in Arkansas
Bankruptcy &Divorce
Bankruptcy in Arkansas,Divorce in Colorado.Divorced Spouse files Chapt.7,listed an unsecured claim as codebtor w/nonfiling spouse.Divorce in Colorado granted filing spouse the entire loan,which was originally a joint loan with a bank.Both spouses were given inst.to execute and prepare any documents to trans.title/owenership.Bank seized money from nonfilers account.Is non filer responsible for this loan,or was fraud committed by filer.
1 Answer from Attorneys
Re: Bankruptcy &Divorce
Did both spouses sign for the loan? If so, the bank
can go after either or both at its pleasure, notwishstanding
what the family court says. Its decision was made easier
when one of the spouses filed bankruptcy. The family court
has no authority to alter the creditor's rights.
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