If your husband runs a business and its under both of your names.. Yet I've never worked there.. Never received a paycheck.. Is that legal ?...

Question

If your husband runs a business and its under both of your names.. Yet I've never worked there.. Never received a paycheck.. Is that legal ?

The business went under. We are still paying on the bank loan.. Getting ready to get divorced, and I know it was totally stupid to sign papers, just because he wanted me to.. But I was just really curious.. Was that legal ? And is there anything I can do about it ??

Answer

The debt from the company can be3 divided between you two as part of the divorce. If you can convince the judge that no proceeds were used for any marital debts, you might succeed in getting all of this debt placed with him. However, your creditors are not bound by your divorce decree. They can still come after you, if he does not pay. But, if the decree says it is his debt, you can go after him for what you have to pay that creditor. Your attorney can explain this in more detail.

Good luck