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socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 37820
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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A former co-worker co-signed a loan for me in October of 2006.

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A former co-worker co-signed a loan for me in October of 2006. He then sexually harassed me and I was fired from my job in October of 2007. I have been making payments on this loan until I got fired. I also filed an EEOC compliant and they issued a letter of determination finding in my favor. My former employer now wants to settle.
I have recently gotten married and am a stay at home mom. Without income and the settlement being in the air, I have no intention of paying this loan. My question is:
If my husband and I open a joint account, and if my name get’s added on our house and mortgage, can my former co-worker come after my husband’s money?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  socrateaser replied 7 years ago.



Under the Uniform Fraudulent Transfer Act, any transfer of assets intended to "defraud, hinder or delay a creditor claim" that occcurs within 4 years of the date when the transfer should have reasonably been discovered, can be voided by a court and the assets thereby reached by the creditor.


So, what you are contemplating will not solve you problem.


You could, however, sue the employee directly for "interference with contract," between yourself and your ex employer, and for "intentional infliction of emotional distress,", and thereby possibly offset some or all of the loan amount due. The fact that apparently the harassment occurred, could make you claims look pretty good to a jury and you could get punitive damages from the employee. This could cause the employee to agree to release you from liability for the loan in exchange for your releasing the employee from liability for the civil claims against him.


Anyway, that would be how I might try to play it.



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