If anyone has any ideas at all on my situation I would appreciate it. I am going to be consulting with at least one BK attorney if not 2 just for the peace of my mind. I haven’t posted here in a few years but here goes with some of the bigger details.
Was a real estate developer who had 15+LLCs and a ton of property and wanted to get married back in 2009 but as the RE crash started all of my attorneys, cpa and other developer friends convinced me not to get married as the pending judgments would attach to my new wife and it would just complicate things. So we held off, over the last 5 years of court battles everything is pretty much gone except for 1 clean LLC that is what I live off of now. Had to move to another state to manage it (but that state had way better exemptions (Texas)). My fiancée has been planning on filing CH7 in the coming months once we get past the 2 yr anniversary of our residency here. Her case is a simple open and shut case as she has no taxable income (all goes through me) and all of her property and car will fall under the $30,000 exemption. Her only real debt and the reason she is filing are 2 deficiency judgments from our two houses that she was a cosignor on that total about 500K that were foreclosed out by a bank that I had a bunch of loans with that failed (new bank with FDIC loss share doesn’t play around or care). She literally only has a small student loan that is down to maybe 5k that she will keep paying on.
My situation is so complicated it isn’t even worth explaining past I have no idea what I actually owe LOL, but I know there are at least 10-12 judgments totaling over 3 maybe 4 million that are out there. Have been 1099ed for over a 1 million and another 10+ things/loans/ foreclosures have just disappeared and are going on 4-6 years old. I am what most would consider not collectable.
If we got married now ( last month was the last foreclosure and deficiency judgment, and for the first time in 5 years I am not being sued, and nothing else is coming) and she filed in a few months, would she be safe/ clean ie not on the hook for my debt at any point in the future? Or do we have to stay not married for that to happen? SO tired of this but not sure what we could be doing otherwise
Was a real estate developer who had 15+LLCs and a ton of property and wanted to get married back in 2009 but as the RE crash started all of my attorneys, cpa and other developer friends convinced me not to get married as the pending judgments would attach to my new wife and it would just complicate things. So we held off, over the last 5 years of court battles everything is pretty much gone except for 1 clean LLC that is what I live off of now. Had to move to another state to manage it (but that state had way better exemptions (Texas)). My fiancée has been planning on filing CH7 in the coming months once we get past the 2 yr anniversary of our residency here. Her case is a simple open and shut case as she has no taxable income (all goes through me) and all of her property and car will fall under the $30,000 exemption. Her only real debt and the reason she is filing are 2 deficiency judgments from our two houses that she was a cosignor on that total about 500K that were foreclosed out by a bank that I had a bunch of loans with that failed (new bank with FDIC loss share doesn’t play around or care). She literally only has a small student loan that is down to maybe 5k that she will keep paying on.
My situation is so complicated it isn’t even worth explaining past I have no idea what I actually owe LOL, but I know there are at least 10-12 judgments totaling over 3 maybe 4 million that are out there. Have been 1099ed for over a 1 million and another 10+ things/loans/ foreclosures have just disappeared and are going on 4-6 years old. I am what most would consider not collectable.
If we got married now ( last month was the last foreclosure and deficiency judgment, and for the first time in 5 years I am not being sued, and nothing else is coming) and she filed in a few months, would she be safe/ clean ie not on the hook for my debt at any point in the future? Or do we have to stay not married for that to happen? SO tired of this but not sure what we could be doing otherwise
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