Am I Responsible for my Ex’s Debt?

Am I Responsible for my Exs DebtHere’s a question I come across all the time.. “Am I liable for my ex’s debt?”

Here’s the short answer. YES!

Now I understand you may not feel like you are responsible for his motorcycle loan, or for her credit card debt.

But the only thing that really matters is what the lender thinks.

I know it can be a sad and cruel world sometimes. Here are three things you can do about it…

1. Pay it off with money from your savings now.

2. Sell it and pay off the balance.

3. Refinance it into the name of the other spouse.

Remember this simple rule of thumb…If you sign your name on the dotted line, you are responsible for it.

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Please share your comments and questions