stephant77
Junior Member
What is the name of your state (only U.S. law)? New Jersey.
Hi there. My wife is facing a personal bankruptcy after defaulting on a New York taxi medallion loan (as you may know, the value of the medallions has plummeted post-Uber.) The bank is coming after her for the rest of the unpaid balance on the loan. I am not a party to the loan agreement; it's her company and I'm not involved.
My question is: Can the bank pursue the equity in our primary residence? I know some states protect the residence if the home was purchased as a couple and the other spouse is not party to the default.
Thanks! S.
Hi there. My wife is facing a personal bankruptcy after defaulting on a New York taxi medallion loan (as you may know, the value of the medallions has plummeted post-Uber.) The bank is coming after her for the rest of the unpaid balance on the loan. I am not a party to the loan agreement; it's her company and I'm not involved.
My question is: Can the bank pursue the equity in our primary residence? I know some states protect the residence if the home was purchased as a couple and the other spouse is not party to the default.
Thanks! S.