wife with cancer

[jdl123]

The situation:
-wife has a business and has 50k debt in her name (unfortunately not the business name)
-wife now has cancer and can no longer run the business (cant really sell it either)
-currently her credit is great, but things are turning even more upside down daily.
-she spoke to an attorney, but they said she has to pay $900/month for 5 years because I make too much money. Not sure how my income comes into play for this.

What are our options? This is very confusing and the attorney made things even more confusing. Just trying to get some answers from those that may have done something similar.

[newbie2]

The situation:
-wife has a business and has 50k debt in her name (unfortunately not the business name)
-wife now has cancer and can no longer run the business (cant really sell it either)
-currently her credit is great, but things are turning even more upside down daily.
-she spoke to an attorney, but they said she has to pay $900/month for 5 years because I make too much money. Not sure how my income comes into play for this.

What are our options? This is very confusing and the attorney made things even more confusing. Just trying to get some answers from those that may have done something similar.

Unfortunately, even though your wife wants to file bankruptcy alone your income is taken into account because you are part of the household. However, please note though that your expenses are also taken into account. (Don't forget to include your personal unsecured payments each month in to those expenses.) A big part of this equation is that if she isn't working she technically doesn't have any funds for a repayment plan.

It is best for both of you to sit down with an attorney (several if you can) with your income, expenses, etc and make sure you get clear answers on how to proceed. I wish you and your wife the best.

[jdl123]

thanks for the reply. That clears things up. So i guess we should be dirorced so she can file?

[newbie2]

thanks for the reply. That clears things up. So i guess we should be dirorced so she can file?

Absolutely not. (Although I'm sure you meant that sarcastically :-) Please talk to a couple of attorneys for a much more clear picture of the situation. I am sure that you and your wife should be able to get through this (her filing singly) without you being personally responsible to make the payments from your income.

[StartingOver08]

No, you don't have to divorce.
It sounds like you need to put down all of your expenses on a spreadsheet. Many people go to the initial consultation with a limited list of expenses so they end up with a payment estimate that is much higher than it would be with proper planning.

I don't want to be too personal, but how far along is your wife in her treatments? I too had cancer (a large part of why I ended up here) and there are expenses not necessarily covered by insurance. If she has not finished her treatment plan, it is too soon to file.

[SMinGA]

First thought: don't rush into filing. She is likely to incur medical bills beyond what insurance pays - and so filing now would not really give her the ideal 'fresh start'.

[jdl123]

No, you don't have to divorce.
It sounds like you need to put down all of your expenses on a spreadsheet. Many people go to the initial consultation with a limited list of expenses so they end up with a payment estimate that is much higher than it would be with proper planning.

I don't want to be too personal, but how far along is your wife in her treatments? I too had cancer (a large part of why I ended up here) and there are expenses not necessarily covered by insurance. If she has not finished her treatment plan, it is too soon to file.

Treatment is over, cancer is in remission. She is doing great. But she cant work the hours like she did pre cancer. All her debt was pre marriage debt for the business startup. We actually rushed our marriage for health benefits because of the cancer (we planned to do it later in the year). As i said before, it seems like we should divorce so she can file. I guess i am asking has anyone divorced, filed, then remarried because the system is setup that way?

[SMinGA]

You would still be part of the household. Unless you are going to move out and get your own place also?

Only the part of your income that contributes to household expenses should count. She may just need to scout around for other attorneys. Some are not willing to take much time to dig into your situation before the retainer is paid, but you need to find someone willing & able to answer questions to determine who to hire.