Quote:
Originally posted by bold_n_brazen
I don't think that's right, Seb. The bank wasn't a party to the divorce. It doesn't care. All it knows is that casey guaranteed the loan, and it wouldn't have made it without that guarantee. And now, the bank wants casey's money.
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Thats why the docs matter so much. The bank will say Casey must pay and she can get her indemnification from Ex. However, if the divorce docs say that Casey is free and clear of any debts of ex incurred at any point, including guarantees, you've got an argument.
Guarantee probably says it continues thru bankruptcy, divorce, etc... But thats why you need to read the docs and local rules. Banks routinely fuck up guarantees and confession clauses. If the confession clause in the loan is defective or the manner in which it was executed defective, and she has a divorce decree that says all obligations in favor of Ex are severed, the lender has an issue.
These things always come down to equity unless the guarantee and confession clause are airtight. I've only seen that twice.
