Bankruptcy

What is the name of your state? CO

If you and your spouse get a divorce and he files for bankruptcy, and you still have some things in both of your names, will that ruin my credit as well?? And is there anything to do so that I can protect myself against that situation, besides paying the bills for him??

If you had joint debts with your ex-husband and he is getting his obligations on those debts discharged, you have these choices:

1. Run away, change your name and hope no one ever finds you.

2. Pay the debts yourself.

3. File bankruptcy, too.

4. Ignore the creditors, let them hound you, let them sue you and win and then garnish your wages (if that's allowed in your state), put liens on your property, etc.

FYI, he cannot get child support, spousal support or debts that are "in the nature of" either discharged. Otherwise, the debts are fair game for discharge in a bankruptcy.

Sorry to be the bearer of what I'm sure is bad news to you....

Thats ok, bad news doesn't surprise me anymore, and that is basically what I thought the answer would be anyways.....the running away is out of the question......and the rest, well I don't want bad credit so bankruptcy is 100% out of the question, that leaves me with the option of paying for two cars, o'well, lesson learned.
Thank you for the advice.

This happens so often in divorce.

It makes most folks never want to co-sign anything ever again for anyone.

Are you divorced yet and are the terms of the divorce settled?
Are there any assets your ex might be receiving from the divorce?

We are not divorced yet, or even began the paperwork. Right bow he is getting ready to move out, and we are going to be seperated and then start the paperwork.
But we just got a new vehicle that I don't think he can afford on his own and I co-signed, and then I have a car that is in my name only.......
Hopefully it won't come to bankruptcy, I don't think he can b/c we are both in the military, and I don't know if he can file bankruptcy(??) But I told him that I would pay the insurance on both cars, but I can't do much because I have to stay in the house because we just moved and signed a lease 2 months ago for a year, and Colorado is not the cheapest place to stay, so the rent is expensive......but all of this is besides the point.
Why did you ask?? Is there something we can put in the divorce papers that would relieve me of responsibility if he does file for bankruptcy, or should he just try to refinance and get it in his name only??

Ahhh, OK. I thought you were already divorced.

To protect yourself on those joint debts, you must do one of the following:

1. Refinance or sell the items in joint names so that your name is no longer on the debt.

OR

2. Have all the debts that are joint and that he is ordered to pay classified as spousal maintenance in the decree itself. You need a statement that the court and the parties intend that husband's payment of these debts is to be considered spousal maintenance.