Question: Excuse me if this is not the proper newsgroup for posting this question….. but the people here are so common sense oriented that I thought I would try here first.
My 32 year old niece just got divorced from her husband. Her husband racked up a LOT of debt on credit cards, truck payments, etc.
My niece’s name is still on these credit cards and truck loan papers along with her ex-husband. As a result she is responsible for the payment and struggling to make them. She is treading water and just keeping up with the payments as the interest rate is high enough to never let her make a dent in the principle.
I know NOTHING abt declaring bankruptcy and she asked to me to chk on the Net and see if this is an option for her.
Or……. how can she get her name off these bills and make her ex-husband pay these bill since he racked them up?
Bottom line….. is declaring bankruptcy to be avoided at all costs…. or is it something she should look in to?
Answer: I would like to suggest an intermediate course Your neice can seek advice from crdit counseling agencies for free. They can give her an idea of how long it would take to pay off the debt. They can negotiate lower interest payments with the credit card companies. It may well be that bankruptcy is the eventual solution, but if it were me I’d want ot exhaust the other possibilities first.
Divorce decrees that state that an ex is responsible for debt incurred during a marriage is a contract between the ex and the spouse ONLY. Creditors are not bound to that agreement in any way. The niece must either take him back to court and charge him with violation of the court ordered divorce decree (which the court could say he is then in contempt of court and throw him in jail if he doesn’t pay) or claim Bk and move on. I cannot say this is what stands in all states but this has been my experience with most states.
Related posts:
- Bankruptcy an option?
- Debt question
- Bankruptcy info needed
- Bankruptcy info needed
- lawyers fees
- scrimp and save or bankruptcy?
- Louisiana – NOT the place for Bankruptcy…
- Impact of bad credit on obtaining loans
- Credit Counseling or Bankruptcy?
- Credit counselors help
- scrimp and save or bankruptcy?
- Louisiana – NOT the place for Bankruptcy…