Legal Question in Credit and Debt Law in Maine

I got divorced in 2007. My ex was awarded the house and a car which both were under bank loans with my name as principal signer. My ex stopped paying on the car and got it repossessed. She stopped paying on the house about a year ago and the bank is coming after me. She will not take my name off the loans. Is bankruptcy the only option?

Gary


Asked on 2/10/10, 6:30 am

1 Answer from Attorneys
scott logan Law Office of J. Scott Logan, LLC

You are legally responsible for the debts. The bank probably would not take your name off even if she tried to refinance. You could sue your ex wife, or negotiate a settlement with the bank, or yes, consider bankruptcy.

Read more
Answered on 2/15/10, 6:39 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Maine