Legal Question in Family Law in Texas
legal liability
When a party is listed to be financially responsible for an account (such as a credit card, loan) in a divorce decree, is this party the legally liable party. For example, if the loans are in the husband's names and the wife is listed in the divorce decree to be financially responsible for the payment of these loans, who is legally held liable if the loan payments are not made? And can this still affect the husband's credit?
1 Answer from Attorneys
Re: legal liability
Generally speaking, if you entered into an contract with a 3rd party creditor (credit card company or a mortgage company) then you are personally liable to the 3rd party creditor.
Only the 3rd party creditor can remove your name from the debt owed. Example -- the mortgage company removes your name and only looks to the other party for payment of the mortgage owed. My question is -- why would any 3rd party creditor let you off the debt? Don't you think they want 2 people liable instead of just one?
If the other party does not pay the 3rd party creditor, you must pay it then sue the other party in court for violating a court's order.
If the other party has no money, then you begin to see where problems arise.
No court can take your name off of a debt owed to someone else.
I hope this has not totally confused you.
Good luck!
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
