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Loan - Who pays...

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alexmccrory

Guest
What is the name of your state? North Carolina

First off just want to say this is kind of weird explaining this stuff on here - i hope someone can help me.

I'm in the military and last year i deployed to Iraq for a year. I was married when i left. In the middle of my deployment i got a red cross message from home (seems my wife at the time had gone on a spending spree and spent nearly 17,000 dollars) none of my bills had been paid and my finiances were pretty jacked up. When i got home i ended up getting a divorce relatively quickly, but none of the finances were discuessed.

After i had things cleared up i headed back to Iraq. With the money that i made i managed to get myself mostly out of debt. The one outstanding debt i have was a debt consaladation loan that we had jointly taken out together - along with her parents cosigning on it.

as it stands right now, i refuse to pay anything on this loan because i don't feel like i should have to, after the amount of money that she spent that wasn't hers.

well now she isn't paying any of it either, and her parents want to take me to court for the loan.

i'm just curious as to what they can do, if anything? all our names are on the loan and everyone is just as legeally obiligated to have to pay it as the next person. why should i have to pay it?

any advice as to what i should do?

Thanks
Alex
 


I don't have a legal degree but I can tell you what little I do know about the subject. When someone co-signs a loan they're saying they agree to pay the loan if, in this case, you're ex and you decided to not pay or couldn't pay for one reason or another. Therefore, in the eyes of the law, the loan's responsibility is in the co-signers hands. It's their right to sue you if they choose so what you'll have to do (which should be easy if what you said is true) is be able to prove that you didn't make the purchases as you were in Iraq. I would also look into what the law says about financial responsibility when you're out of the country fighting in the military. It goes without saying that you should of included finances in the divorce but that's just water over the bridge now. If you used a lawyer in your divorce you might want to consult him/her to either get some advice or a referral. It's my opinion that you're going to have to seek local counsel at some point in order to exonnerate yourself from this debt and get it off of your credit report.
 

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