What rights do I have for the collection of a 15 year old debt?

Full question:

I was divorced over 15 years ago. Before we new we were going to split, we bought some furniture, it was me that signed the papers, although it was my husband who was making payments because I was not working at the time. He filed bankruptcy and this furniture was not included in his bankruptcy and now 15 years later collection is coming after me. Do I have to pay this debt?

Answer:

Generally, the person who is the titled owner and who signs their name to the finance agreement is liable for repaying the debt. The answer would depend on the property division in your divorce and whether your husband signed an agreement to assume the loan or be a co-signor/surety/guarantor.

This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.

FAQs

In a divorce, furniture and other marital property are typically divided based on state laws regarding property division. Courts may consider factors such as who purchased the furniture, its value, and the needs of each spouse. If the furniture was acquired during the marriage, it is usually considered marital property, and both parties may have a claim to it. However, any agreements made during the divorce proceedings can also influence the final division.