Should I file?
Just came accross this wonderfull forum, very informational! I apologize in advance for the length of this post :oops: LOL!
First off I'm in MA. Recently got divorced, EX got the house and as well as all the CC that were considered marital debt (some of them are only in my name).
The house owes $170,000 and has a maxed out HELOC of $30,000 that's been on default since January '07. The credit cards that ex is responsible for amount close to $20,000. Truth is, that I would not have been able to afford the house, so I gave it up without a fight. House and HELOC are on both names, Ex has 3 years to sell or refinace to take my name off.
Sadly, it's just a matter of time before everything goes under (ex is already defaulting on mortgage). Ex has not made payment arrangements on with the CC (marital debt). I've had to go to court for some of them (the ones that are on my name only) just to have it continued once I tell them that Ex is responsible per the divorce settlement.
I've heard that even though the divorce decree states that ex gets house, debts, etc., that they could still sue me due to foreclosure. I also know that there is no real way to "enforce" the divorce settlement. I could bring ex back for contemp, but if he doesn't have the money or means to follow through with the court order, there's nothing the courts can do to enforce it.
I also have about $3,000 of debt that I'm responsible for and have the creditors/CA on my back. I could make arrangements to pay them since I'm not so overwhelmed with paying the mortgage. But is it worth it, considering that down the line I may be sued for foreclosure, etc?
Here's my question, should I just file for BK and start fresh? I hate having my future fate in ex's hands, I'm worried about taking so much time out of work to go to court, and worse I'm terrified of the CA tactics (contacting me at work, etc.) :shock: :cry: :( . And yes, my divorce attorney SUCKED, but it was all I could afford at the time :roll: .
Any insights/advise would be greatly appreciated!
Well, in a case like this, I would suggest a consultation with a
Well, in a case like this, I would suggest a consultation with a good attorney, the first consultation is usually free. Your attorney will then do a "means test" to see if you qualify for BK. Perhaps someone else will have some suggestions for you but that is really the only thing I can recommend with my limited knowledge in this area. Good luck! :)
If you are going to file wait until the house has been forclosed
If you are going to file wait until the house has been forclosed and resold so there is a debt to attach. If for some reason the house sells for what is owed on it then there would be no debt even though there was a foreclosure. I would refer the 20k collectors back to the husband even though the CC Companies are not subject to the divorce decree. I would not worry about them to much until they sue you unless you are really concerened about your credit. The only thing left would be the 3k. You could drag it along for a year just to see how the house pans out. If you end up 50k in the hole from the house then it would certainly be worth considering BK.