What if your wife co-signed for a loan behind your back? Are you on the hook, as the husband, to pay?

if his wife had power of attorney over him, and signed HIS signature as a co-signer, then yes, legally, he could be. but if she signed her own name, then no, it is her legal responsibility to pay back that loan, if her brother defaults on it. you may want to check with your state's attorney general's office to see if there could be exceptions to this.

For the time being, only she risks fallout from the brother defaulting on the loan. Obviously, her obligation on her brother's loan could be detrimental to the couple's finances should he default. If circumstances add in divorce, then it entirely depends on the laws of their state as to how debts and assets are viewed. Some states will permit married couples to own items jointly or separately; other states view all debts and assets incurred during the marriage to be shared upon dissolution.

my brothers soon to be ex-wife went "behind his back" and got credit cards up the ying yang, using his and her names.

now they're in divorce court (NH) and he's liable for the monies owed to the credit card companies. So now he has to pay half = 7K of her credit card bills!

your brother is liable for that loan if that guy defaults on it.

he needs to call a lawyer NOW - good thing he caught that.

he should also call the bank the loan is out of and tell them it's fraudulent.

The only way to get it off the credit report would be to divorce. The person that did not sign will not have to pay the debit. But as long as they are married both will have to pay because there is no way to get around it. What she can't afford to pay for while making the payments the other has to pay. Now if she can't pay and he refuses to pay then as long as they are married their home can even be sold so he will pay anyway. And as long as both are married the bad credit will be on both of them.

Well, it sounds like he does need to either work it out with her or find a new wife. I think he would be responsible for the loan though unless his wife has an account completely seperate from his.

I don't know the legality's but if he is supporting her he will end up having to pay the loan if it defaults by having to give his wife the money.

If his wife signed her name as co-signor then he is not resposible. If she forged his name on the loan, then he will have to get a lawyer and take legal action because if she signed his name, then technically his name is on the loan too, even if it isn't legally his signature. Your brother will have to take this to court and she will probably get in big trouble for falsifiying documents plus forgery.

If she co-signed than she is liable. If her brother defaults on the loan she has to pay, not you. Unless of course she forged your name, than thats another story. You could press charges against her.

I agree with Linda...but in addition...if they DO divorce he can have a statement put in that will ensure it is understood he is not responsible. Upon divorce, he should check his credit report and make sure it is not showing up.

His credit report is actually his own, you said he just looked at "a" credit report. If it is showing up on his...DISPUTE IT NOW!!! They are totally wrong. Set the record straight now.

You are off the hook therefore let your heart not be troubled. If her brother defaults payment it is your choice whether to assist your wife to pay off the loan or not.