Liability for Current Spouse's Debt

[kjohnson01]

What is the name of your state (only U.S. law)? Virginia


Is there any way that a married person can protect themselves from the liability of debts being incurred by their current spouse (i.e. some document that can be recorded for legality's sake, a public notice, etc.)?

[LdiJ]

Originally Posted by kjohnson01

What is the name of your state (only U.S. law)? Virginia


Is there any way that a married person can protect themselves from the liability of debts being incurred by their current spouse (i.e. some document that can be recorded for legality's sake, a public notice, etc.)?

Nope...If you are not a party to the debt then the creditors cannot come after you (even though some of them may lie and say that they can) but you could still be held responsible for 1/2 of them in a divorce situation...depending on the nature of the debt.

[kjohnson01]

So if my current spouse has borrowed a significant amount of money from an individual who has unlimited resources to collect, for instance, I am still liable for the debt? What about if I've made it clear to the lender that should he/she lend the money to my spouse, that I am opposed to the loan and consider myself not a party to the loan? Nothing was signed in any transaction(s) by either my spouse or myself.

[Ohiogal]

Then you are not liable for the debt if you did not agree to the debt (signing a contract or accepting the money).

[kjohnson01]

My heartfelt thanks to any and all who replied to my questions.