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Debra, Lawyer
Category: Canada Law
Satisfied Customers: 106701
Experience:  Lawyer
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I have been seperated for five years. My ex wentvthrough a

Customer Question

I have been seperated for five years. My ex wentvthrough a period werevhe struggled with mental health issues and addiction. I got a seperatiin agreement to protect myself, my kids and finances during this time. It stated a child support amount and to divide all the assets/debts. Our mortgage and joint line of credit were attached to his bank account. The bank refused to give me access to it without both signatures until it was maxed out and payment coming back nsf. My ex claimed bankruptcy 4 years ago and i have assumed all our debt. Do i have any recourse with the bank?
JA: Because family law varies from place to place, can you tell me what state this is in?
Customer: Ontario
JA: Has anything been filed or reported?
Customer: The support agreement has.. i think. I have not filed with FRO.
JA: Anything else you want the lawyer to know before I connect you?
Customer: No. I don't think so.
Submitted: 6 months ago.
Category: Canada Law
Expert:  Debra replied 6 months ago.

Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

Expert:  Debra replied 6 months ago.

I am sorry to hear this.

Are you asking about the LOC?

Customer: replied 6 months ago.
The house was sold. No other assets, just debt. We seperated at a time when we had a negative financial balance. I still am paying the loc interest.
Expert:  Debra replied 6 months ago.

So is the LOC in both names but the bank will not allow you to borrow on it?

Customer: replied 6 months ago.
I have never had acess to borrow on it. It was locked after we sold the house. So i am just paying interest on it (for five years now) . The bank sent me a notice when he claimed bankruptcy saying i was wholly responsible for the amount. However they will not remove his name from the account as i do not have sufficient income or assets to assume the debt or convert it to a loan.
Expert:  Debra replied 6 months ago.

Why do you want his name removed?

Customer: replied 6 months ago.
That doesn't matter to me. Should this amount not have originally been split between us? I am a little angry at the bank because they would not allow me to make changes and stop my ex's spending at the time without both of our consent. Until it suited them.
Expert:  Debra replied 6 months ago.

I understand.

The problem is simple though. Your former spouse declared bankruptcy and that wiped out all of his debt. It is his fault and not the bank's.

But if you are saying you told them to stop allowing him to borrow because you could see you were going to get stuck with more debt and they refused to freeze the LOC after learning this then it is possible you could sue them for what your former spouse spent after you provided them with this warning.

Does that help?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

Expert:  Debra replied 6 months ago.

Is there anything more I can help you with at this point in time?