What is the name of your state (only U.S. law)? Florida
My ex is in the process of filing bankruptcy. Over the last 3 1/2 years I've been able to get everything into my name EXCEPT our Home Equity Loan. I still live in the house and I've been the one making payments. Now, however, I'm getting mixed advice. I also just received a letter from the bank saying they've stopped my auto payments as of last month (I didn't even realize bc it's been auto deducted).
I know I'm not protected under his bankruptcy but is this entire debt going to be wiped out? Even the bank told me I have a "choice" if I want to keep paying??
I also asked about a possible refi on the interest rate since when I was taken out it was a joint loan and now I don't even know what to call it
I'm guessing even though I can't just take myself off my bills a bankruptcy can do just that and leave the co signer out of luck?
I know there's the option to sell and I'm looking into that, but I've also been told I might have to pay off the entire loan (I'm not financially able to do that). And again I've been told to stop paying on it until the bankruptcy plays out (but I don't want my credit ruined either).
My ex is in the process of filing bankruptcy. Over the last 3 1/2 years I've been able to get everything into my name EXCEPT our Home Equity Loan. I still live in the house and I've been the one making payments. Now, however, I'm getting mixed advice. I also just received a letter from the bank saying they've stopped my auto payments as of last month (I didn't even realize bc it's been auto deducted).
I know I'm not protected under his bankruptcy but is this entire debt going to be wiped out? Even the bank told me I have a "choice" if I want to keep paying??
I also asked about a possible refi on the interest rate since when I was taken out it was a joint loan and now I don't even know what to call it
I'm guessing even though I can't just take myself off my bills a bankruptcy can do just that and leave the co signer out of luck?
I know there's the option to sell and I'm looking into that, but I've also been told I might have to pay off the entire loan (I'm not financially able to do that). And again I've been told to stop paying on it until the bankruptcy plays out (but I don't want my credit ruined either).