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If you and ex husband owe unpaid taxes and ex husband files bankruptcy are you liable for the whole bill?
Shadshark27
Wiki User
∙ 15y agoMost likely yes, the IRS is very persistent about money owed.
Answer: It is dependent on the jurisdiction in which you live and its legislation. It is worthwhile to engage a local acccountant or lawyer to determine your status
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What if primary signer files bankruptcy?
The co-signer would then be liable.
In a joint account if one person files bankruptcy is the other liable?
Yes
Are you liable for a car loan if the owner files bankruptcy and the car was charged off?
That depends on what you're asking. Who filed bankruptcy? The owner of the car or the owner (holder) of the car loan? Did you co-sign on the loan? If you co-signed on the loan and the other signer files for bankruptcy, yes you are liable for the loan. If the owner (holder) of the car loan files for bankruptcy, you are still liable to the owner's creditors (and you need to find out who they are so you can get the lien released).
What happens to the primary if the co-owner files for bankruptcy?
The primary would be held liable for the debt.
If your car is repossessed and the person who cosigned for you files bankruptcy are you still liable for the repossession?
Yes. If you default on your car loan you will remain liable for the debt.
If ex-wife owes half of IRS debt and now files bankruptcy is spouse liable to pay her portion?
If ex-wife owes half of IRS and now files for bankruptcy, spouse may be liable to pay his portion if the debt was is a joint account. Otherwise, spouse will not be held liable for any portion thereof.
If a cosigner files for bankruptcy does it put the primary signer under bankruptcy too?
No, the primary signer is still liable. But if a loan is not dischargeable, such as a student loan (actually is is extremely hard to discharge), both the primary and co-signer will STILL be liable after the bankruptcy
You bought 2 motorcycles on your wifes creditcard can they get taken away if the husband files for bankruptcy?
They are as good as gone.
What happens when someone you cosigned a mortgage for has filed for bankruptcy?
When you co-sign on a loan or mortgage for someone, you are promising to make the loan payments if they can't. When someone files for bankruptcy, they are claiming that they cannot make their payments. It would stand to reason that if someone you co-signed on a mortgage for files for bankruptcy that you would then be liable for making the payments.
If the cosigner files bankruptcy and claims the debt of the cosigned loan is the cosigner relieved of the cosigned debt?
Unfortunately, no. For all co-signed debts, both signers are liable for repayment of the debt. When one party has their obligation discharged by bankruptcy, the remaining debtor becomes 100% liable for repayment of the balance.
If your husband files bankruptcy can they take the wifes' possessions?
It depends on that State's laws, but usually, if the wife is not a co-signor on any of the debt's that the husband is filing, she is exempt. To be on the safe side, check with the bankruptcy lawyer filing the petition.
Can my husband's brother get out of paying us 48000.00 we loaned him if he files bankruptcy?
Possibly. It depends on the terms of the loan and the type of bankruptcy he files. You should meet with a lawyer to find out what, if anything, can be done to protect the loan. You may need to get a judgment and attach to property.
