New Here - Multi-faceted Possible BK Issues

[SheSurviving]

Hello, I am recently divorced, have been trying to short sale our home in Arizona (1st & 2nd mortgage, 2nd is a conventional 2nd, not purchase money however was cash out), have a foreclosure date of 7/19. Yesterday, the buyers backed out of the SS and well... I am basically lost as to what to do next. I am going to go an speak with a BK atty this morning to find out more but there is such a wealth of knowledge here I thought I'd put it out there for anyone who may be able to provide insight.

My EX an I don't speak and he's basically not involved in this whole process leaving everything ON ME. I am afraid honestly, SS/foreclosure and the possible tax issues on any forgiven debt, or if BoA decides to collect on the 2nd and my EX BK's on me, then they will come after me... BK seems like my only option to be able to start over.

ETA: my 1st mortgage is $259K, 2nd is $49K - I have one CC with a $8K balance and I need to keep my vehicle which also holds a loan. when I pulled my credit report, 2 of my EX's CC's are showing up... so I would assume I can BK on those even though he's paying them?

Has anyone been through something like this? Yes, I did search, I became a tad overwhelmed. LOL

Thank you in advance.

[SMinGA]

If/when you file - you would include all of your debts. If they are joint debts, your ex could still be held financially responsible. Could probably keep your vehicle - would ultimately depend on how much equity you have in (difference between what you owe & what its worth) as well as your state of residence. Each state has different exemptions outlining how much value you can keep in a car, personal property, etc.

One thing I vaguely understand: BK takes away one's financial obligation to the creditor. But does not override any family court/divorce decree awards. Meaning if your divorce decree said you were to pay such-and-such, and you file BK, then your ex could pursue that as a civil action.

[SheSurviving]

Well the house, yes, joint debt. I did find out that with AZ anti-deficiency laws, they can not peruse the 1st mortgage, but CAN come after us for the 2nd including all penalties, late charges, etc. That 2nd mortgage could balloon up past $49K with all the fees, etc.

In the divorce, I said I was responsible for the car loan and car (which I have no equity in, I owe more than it's worth) and my lone CC (which he was never an auth user). He is responsible for his CCs (2) and yes, it's in the paperwork. However 2 of his CCs is showing up on my report, I know he removed me as an auth user, but that's neither here nor there I guess, it's on the div decree as his responsibility. So I would assume if he defaults on his CC, they can not come after me since I filed BK and it's on the Div decree as being his debt.

[keepmine]

I'd suggest you list anyone who could conceivably have a claim.
If they're on your report-schedule 'em. Noway it can hurt you.