UPDATED: Jun 1, 2009
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Going thru divorce find numerous financial issues that involve significant unsecured debt.Including spouse securing what I thought was a refinancing of second mortgage from variable local loan to a fixed internet financial loan. I co-signed for what I trusted to be a strict refinancing. I am now court ordered to pay this loan as my spouse is now unemployed. upon review of premium ststement I have become aware that my spouse embleished the loans to an additiona $12,000.00. There are other incidences of unaccounted for funds.Question:Does this constitute fraud? Is this Criminal ahen occurs in marriage? Is it worth pursuing prior to final divorce decree? It looks that maritial residence will be lost to cover debts and since I am employed I anticipate being required to pay spousal support.I left the marital residence but continue to pay the mortgage.Thank You Penny
Asked on June 1, 2009 under Family Law, Ohio
Denise Ferguson / Denise Ferguson Attorney At Law
Answered 13 years ago | Contributor
If you signed on the dotted line for the financing then no it is not fraud. You are responsible for knowing a) what you are signing for and b) where the money in your household is going. Many courts will find that you knew. This is NOT criminal however. You had an opportunity to read the loan papers before signing.
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