Could I collect on my ex-wife?

[rebeccarollers]

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

My wife and I have been married just under 10 years and house loan, 2nd mortgage are in my name. We had to leave her name off the loans because of HER bad credit, otherwise they would've been. I've always had good credit, have never needed any kind of co-signor and I want to do anything possible to avoid filing bankruptcy. We have decided to get a dissolution, I will keep the house, and she said she would payoff the 2nd mortgage. She would have to make monthly payments, and she would NOT beable to refinance the 2nd mortgage in her name.

So my question once the dissolution is finalized if she defaulted on the 2nd mortgage (which would still be in my name) would what she agreed to, in the dissolution, hold up in court in regards to garnishment of her wages or would I basically be out-of-luck?

 

[Debt Guy]

So my question once the dissolution is finalized if she defaulted on the 2nd mortgage (which would still be in my name) would what she agreed to, in the dissolution, hold up in court in regards to garnishment of her wages or would I basically be out-of-luck?

This is a question best posed to your divorce attorney.

But, the short answer is maybe.

The terms of your divorce decree would not be binding on the creditor. So, if she failed to pay, you would have to either pay or face the consequences of a default.

If that were to happen, you would then need to take her back to family court and ask the judge to grant relief for her breech of the decree. Yes, you could be awarded a judgment. But, collecting on such a judgment is not easy (as many a creditor will tell you) as she seems to have a history of irresponsible credit decisions. Judgments do last a very long time and are a public record.