During my divorce my ex was ordered to pay me 7500.00 whihc was half of the credit card debt. Since he rarely worked and his credit sucked ( which thanks to him mine now does), all the cards were in my name with him just as an authorized user. Our debt was about 15,000. After the judgement against him, he has quit his job and has not paid his judgement against him to me. My lawyer says there is nothing i can do until he goes to work and i can garnish his wages. That these cases are easy to get the judgement but hard to collect the money. I have since negoiatated with all 4 companies and paid these cards off by doing a settlement with them, I paid in full about 50% total of what we due as each company offered me a different settlement amount. I heard that if i owed ( liabilities) more than i owned ( assets) at the time of the divorce that i do not have to claim this income and file these 1099cs i have read about..is there any truth to that??..i sure hope so...
2007-12-28 13:39:41 · 1 answers · asked by ilovedenverbroncos 4 in Business & Finance ➔ Credit
I don't know the answer to your question, but wouldn't you just love to find a way to pass all those 1099s on to your ex? After all, he was suppose to pay half. You paid your half; they forgave his half. Let him have all the tax consequences.
I think it would be worth the lawyer fees to check into the feasibility.
2007-12-28 13:47:51 · answer #1 · answered by bdancer222 7 · 1⤊ 0⤋