I am still in a mortgage from a former marriage in NC. My ex had let it go into foreclosure but has worked out an arrangement with the bank. I have an attorney working on trying to get my name off of the mortgage but it looks like the best he can do is get my ex to agree to sign that he “is responsible for payments”. Meanwhile every time he makes a payment late, he is dragging my credit down with his. I am working hard to pay off my own debt and improve my credit.
Would bankruptcy get me out of my half of the mortgage with my ex? If he signs that he “is responsible for the mortgage payments”, will that help me when I need a loan for a car or my own mortgage? I want to get remarried but don’t wnt to hurt my boyfriend’s credit. I know I am in a mess, and I would really appreciate any advice you can give me.
Yes, bankruptcy would get you out of the mortgage and break the bond with your ex and it is a path that many follow because until you break that bond the joint credit will follow you around until that loan is paid off in full.
The statement that the ex is responsible for payments is nice but nearly meaningless. It does nothing to remove the loan from your credit report or remove you from liability if he does not pay. If he fails to pay the loans, guess who the bank is still coming after, you.
If you do decide to go bankrupt to get a fresh start, while it will hurt your credit in the short run you can easily rebuild your credit by following my guide here. The significant advantage for you is that bankruptcy will give you that clean break you are looking for and if you qualify for a Chapter 7 bankruptcy this could all be over in a few months.
It sounds like that is the path you want to follow to start a new life with a new love.
You can click here to find a local bankruptcy attorney and if you’d like a second opinion about your situation or a personal consultation by another debt coach, please feel free to contact
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
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