Legal Question in Credit and Debt Law in Georgia
One spouse guarantee on loan
If only one spouse is the personal guarantor on a loan and the loan is in default, can the creditor come after the other spouse?
Asked on 3/14/06, 3:00 pm
1 Answer from Attorneys
Scott Riddle
Law Office of Scott B. Riddle, LLC
Re: One spouse guarantee on loan
Generally, only the party signing the loan documents or guaranty's are liable. One exception is where the person attempts to transfer assets into the spouse's name to avoid collection.
Answered on 3/14/06, 5:33 pm