Has anyone filed a chapter 7 bankruptcy? What's life like after that? Also - what do you know about bankruptcy? EVERYTHING (except one card) is in my soon-to-be-ex husband's name...so I'm not even sure I can FILE bankruptcy until I divorce and have some of the debt in my name. I'm divorcing due to domestic violence - does the reason for bankruptcy make any difference? Thanks!
2007-01-15 15:51:53 · 0 answers · asked by Jazmin 2 in Business & Finance ➔ Personal Finance
#1- When you file for divorce, make sure it is noted that you are responsible for your debts and he is responsible for his debts. Once that is done....
#2- If need be, you can file for Ch 7. On accounts with your name only.
I have been in the same senerio. Filed for divorce and made sure it was stated on the papers that each of us were responsible for our own debts. Then I did file for Ch7.
And yes, there is life after filing.!!! I have a bank account and a vehicle. It is tougher getting the credit, but you can. And there are places to purchase a vehicle under bankruptcy. You need the discharge papers and will pay a higher interest rate. There are also dealerships that have their own finances in house.
orchardbank.com is a credit card to help you get back on your feet after bankruptcy.
Just make sure that you and soon to be ex have your debts listed separately on the divorce papers and take resposiblity for them.
Hope this helps.
2007-01-16 03:10:42 · answer #1 · answered by Trese 5 · 0⤊ 0⤋
IIf the bankruptcy fall on you personally, then your ex-hubby has no involvement with this. As you possessed a card (presume as
credit card) which is under your ex-hubby's principal card
then your hubby got to responsible the payment of yours as
supplementary card. A bankrupt person who is in a great debts
and unable to finalise the settlement thus declared bankrupt.
A person in bankruptcy, is unable to possess any property, vehicle,bank saving, cannot run his own business and going oversea.
2007-01-15 16:56:21 · answer #2 · answered by ELGINKOH 2 · 0⤊ 0⤋
If it's in his name just make sure it stays that way in the divorice settlement. Hopefully than you won't have to worry about this.
2007-01-15 15:56:37 · answer #3 · answered by MagicalMke 4 · 0⤊ 0⤋
make sur eit discharges soon try to keep at least one trade line open and try to establish post BK trade line asap.. a good example is a secured loan from the bank.
2007-01-15 15:56:50 · answer #4 · answered by benjie b 2 · 0⤊ 0⤋
It's hard. It's not the release you think it is emotionally.
2007-01-15 16:25:04 · answer #5 · answered by tito_smootz 2 · 0⤊ 0⤋