How to protect my to-be-ex-wife – file bankruptcy before or after divorce?
I am failed financially and about to seek protection under the bankruptcy law. I run up credit card bills while being married to my to-be-ex-wife, but I don’t want her to be responsible for my failure. Should I file BK before or after divorce is finalized? How can I be sure my creditors wont go after my ex-wife just because we were married when I over-extended myself? Also, I’d like to be sure that her credit wont be killed because of me. Thanks.
July 27th, 2009 at 5:30 am
Well, as long as you were the sole signer on all of the loans that are causing problems, you can file bankruptcy before or after your divorce. You’ve earned my respect, by the way.
July 27th, 2009 at 10:48 pm
make sure her name is removed from any creditor you have. it’s that simple. don’t panic. when you declare is less relevant. declare ch 7 if you can. i assume she knows this possible BK is forthcoming. it is in her best interest to not be on your creditor’s lists, so she should want to go along and help you get herself removed as joint account holders, where it may apply. let your divorce attorney know about this , however. it plays into the bigger picture. good luck.
July 30th, 2009 at 9:29 am
If you are represented by an attorney in your divorce or for your bankruptcy this is a question that you should raise to him or her. The alternatives are too tricky for anyone in this forum.
July 31st, 2009 at 7:09 pm
Seek the advice of an experienced bankruptcy atty. I do have to say it is commendable that you want to watch out for the best interests of your prospective ex. I don’t know your reason for divorcing, but regardless, you are being mature, responsible, and good about making sure this woman is not going to be hurt by your financial hardship. Good Luck !!!
August 3rd, 2009 at 2:31 am
Bankruptcy and divorce together are very complex. You really have to discuss this both with your bankruptcy attorney and your divorce attorney. Given your desires here, they both should be able to work cooperatively with your soon-to-be-ex’s attorneys in order to work out a resopnsible solution. Be sure that both you and she get current credit reports.
August 4th, 2009 at 1:45 pm
What a guy! My soon to be ex can’t wait to hand me 1/2 of “his” credit card debt (my name is nowhere on it and I knew nothing about it , $62,000 total). Wish I would have been married to you! He’s also so happy to get 1/2 of “my” retirement, but p_ssed that I get 1/2 of “our” property.
August 4th, 2009 at 7:11 pm
Bankruptcy combined with divorce can be a minefield and my advice would be to seek legal help before you take any irreversible decisions.
Get help from a bankruptcy attorney. A divorce attorney won’t necessarily give you the best advice because bankruptcy is a specialist area of the law. You can usually get an intitial consultation with a qualified bankruptcy lawyer free of charge. Check out this webpage to seek advice. Good luck to you both!