Dear advice seekers,
I totally agree with your friend.
Your risk should not be underestimated, with the consequences already shown to you;
Claims can be asserted against you under the loan agreement because you are a borrower alongside your ex-husband. If the loan is not repaid and the ex-husband does not meet the obligations under the divorce agreement, you will be held liable.
As a rule, an attempt should also be made to obtain a release from liability for you with the bank. However, it is also possible that the bank will reject this. Then you remain liable.
In this case, internal arrangements are then made between the borrowers; as well as in the divorce settlement agreement.
But since this agreement only applies internally, the residual risk remains for you as the borrower.
You should therefore first speak to your ex-husband that a release from liability should be obtained from you.
Only if the bank rejects this can the regulation mentioned be made internally
How high your risk is cannot be seriously assessed. The question is whether your husband will pay back the installments in the future. Disasters in life can make repayment impossible. Then it comes to the scenario that your friend showed you.
However, it is also not uncommon for such agreements to be concluded. Only the residual risk remains.
Best regards
lawyer
Sylvia True-Bohle
