middle of filing divorce and bk 7 ... experiences?

[proto]

Hello all,

1. I live in CA (comm prop state)

2. I have been unempl for 2 years now (can't even find part time work ... degree in physics is proving useless ...) with seemingly no prospects in sight ...

3. My wife and I are in the middle of filing an amicable (SP?) divorce without lawyers, etc ...

4. No property, only significant assets are her car (kelly bb $10,000), mine (kelly bb $3000), household items (10k) ...

4. I have 70k debt and she has 40k ...

5. My health is good ...

I want to spare her having debtors coming after her if I file bk 7.

Should I wait until divorce is final and if so what's the worse the collectors can do to me?

Anyone had a similar experience or have a sense how this may play out?

Thanks

[JRScott]

I'm not sure how this will play out, assuming the majority of the debt was accumulated during the marriage they could argue that you are both equally responsible for the debt regardless of who's name is on the debt. Thus if you want to avoid this you will need to get the divorce first, in the divorce decree there needs to be a clear and concise assignment of assets including debt, who owns what, and who owes what. That I think will protect you but you should talk to a few BK lawyers in your area to make sure, most will give a free initial consult.

[LuciluS]

I divorced 6 yrs ago and remarried in the same year LOL!

I had a BOA card (previously MBNA) that was still in my ex-husbands name and our names. We thought we had removed his name in 2005. But, they said they never got the paperwork.

It was stated in the divorce decree I was responsible for the MBNA card. Bankruptcy Attorney said that didn't mean squat. If we defaulted on the payments, ex husband would be responsible.

We were lucky in that ex-husband's wife paid off the credit card and we will owe her the money at zero interest in monthly payments after our bankruptcy is finalized. We are filing 9/30/09.

So, if you have joint credit cards both of you are responsible for the debt, unless you can get her name removed and receive notice from CC of such, before you stop paying the credit card. Same goes for you too. If you are a co-signer on one of her cards and don't get your name removed before bankruptcy, you will have to list the debt, but CC company will go after her for the remaining balance.

There is a difference between co-signer (responsible for debt) & authorized user. If an authorized user has not made purchases on CC, authorized user is not responsible for payments.

Luci

Luci

[ando]

I am going through a divorce $84 k in unsecured debt, 150k equity in house , contemplating bankruptcy preferably chapter 7, how does this pan out , can someone shed some light on what should I do first, divorce or bankruptcy?

by the way, all in my name house and debts.