husband bought an apt in Massachusetts.I had no income at the time but signed papers. Am I responsible for his debt??? After a few years, lost monies ,returned the apartment to owner,owner put a judgement on us for the difference of what he says he lost-Would my house be at stake???Would bankrupcy be my best solution???I have an excellent credit history and can pay all of my credit cards except this- please share your advise-
The judgement will give you BAD (major derog) credit. You should arrange a payment plan with the customer before it goes that far. Otherwise you risk 7 years of bad credit for the judgement, and 10 (7) for bankruptcy. Is that what you want? In all honesty, prolly be cheaper to pay the guy before it gets out of hands. 7 years of bad credit is VERY painful.
