Expert: Terry Leeders - 6/4/2008

Question
I've annulled my marriage to a person I have two joint home loans with, one our main home and two a rental property. I took my name off the properties some time ago but am still on the loans. I don't want to ruin his credit but I'm wanting to include those two loans, along with all my other debt, on my bankruptcy. I live in California. Is there a way I can remove my name from the loans either through bankruptcy or some other way without ruining his credit?

Answer
You can list the debts in the case. It would remove your liability for the loans.  He will just have to maintain payments on the debts if he wishes to keep the properties.  Since you are not on title anymore, it won't have any other effect.  The bankruptcy will remove your name, and it will not affect his credit.