I just received information from my spouse, whom I have been separated from for the last two years (divorce is on the way once the cost of a lawyer is gathered), that they are filing for bankruptcy. Will this effect me in any way negatively? The only thing that we have joint debt in is a promisory note that is related to our recent short sale on a condo we owned.

I just received information from my spouse, whom I have been separated from for the last two years (divorce is on the way once the cost of a lawyer is gathered), that they are filing for bankruptcy. Will this effect me in any way negatively? The only thing that we have joint debt in is a promisory note that is related to our recent short sale on a condo we owned.

"They" are filing? Your spouse and another person?

Sure it will affect you. If you signed a note jointly and your spouse is seeking a bankruptcy discharge of debts, you will be left holding the bag.

"They" are filing? Your spouse and another person?

Sure it will affect you. If you signed a note jointly and your spouse is seeking a bankruptcy discharge of debts, you will be left holding the bag.

"They" as in my spouse. We have a verbal agreement that my spouse is to be responsible for this promissory note; as I forked over my own sum of cash to pay off the second lender. As of now, I'm getting in touch with a local (Chicagoland) divorce and bankruptcy lawyer to find out what needs to be done in order to protect myself. I'm wondering if there is a way to force her into taking out a loan to pay off the promissory note and then she has to deal with the loan with some other institution that doesn't have both of our names on it.

"They" as in my spouse.
From your name, I guess it's a fair guess that you would be a guy. Therefore, unless you are in one of those same-sex so-called "marriages", the proper pronoun to use would be "she". You have something against using the correct word?

Anyway, I digress.


I'm wondering if there is a way to force her into taking out a loan to pay off the promissory note and then she has to deal with the loan with some other institution that doesn't have both of our names on it.

It's probably too late for that. And besides, she's teetering on bankruptcy. It's not likely that anyone is going to make her a loan.