Old debt from husband...

[shannenon]

What is the name of your state? I live in Missouri and I am goin through a divorce. My husband had got a motorcycle, i did sign on it but when we split up he couldnt pay the payments so he took the motorcyle back to the bank, , they sold it but didnt get all we owed on it, there is a balance of over $2,000 left. In the divorce papers, I stated that since it was his motorcyle he could pay what was left. He is not getting a lawyer so he will have the debt, will i still get into trouble over it since I gave the debt to him? I am disabled and live on a fixed income with 2 children. What should I do?

 

[Ladynred]

I'm confused.... gave the debt to him ?

- There's a $2000 balance owed from the repo and sale of the bike.

- Your husband is supposed to pay the debt per your divorce decree ??

- Is he going to be able to pay the $2000 deficiency ??

If not, they are going to come after YOU for the balance because you cosigned for the loan. Creditors don't give a rat's a$$ who got stuck with what bills in a divorce settlement. All they know is they have a co-signer they can go after.

So, if that's the kind of trouble you're referring to for yourself, the answer is Yes.

IF he is supposed to pay this debt according to your divorce decree, you CAN take him to court and see if they will make him pay since he would then be in contempt by refusing to pay it as ordered.

 

[JETX]

I find your claims interesting... "In the divorce papers, I stated that since it was his motorcyle he could pay what was left" and "I gave the debt to him?". I don't find anywhere in these statements where he AGREED to accept liability for these debts.

In any case, if your name was on the original repayment agreement, the divorce doesn't remove your obligation. That can only be done by a written agreement with ALL parties (the lender included) or by your 'ex' refinancing the property under his name and paying off the joint debt.

So, "What should you do?". You really have little choice. If he doesn't make the payments you will have to. And if neither of you make the payments, then the creditor could sue both of you and get a judgment. Using that judgment, he could then seize your (both parties) non-exempt assets.

One bright light... if the divorce does in fact give him that debt to repay and he doesn't... you can sue him to recover your 'damages' (amounts that you paid in his behalf) or you can return to the original family court and request a contempt order to force him to pay.