potential bankruptcy by XH how will effect me? - 02/12/10 11:02 PM
Want to start a new thread for some help.
I got an email from XH a little while ago. In it he states the following...
I am trying to pay what I owe. I am thinking about filing for bankruptcy, I am meeting with a financial planner I cannot continue to pay all these bills.
I do not know how the bankruptcy will affect my half of the house if you want you can buy my portion of the house for current market value. You have the money.
I am very concerned with this possible turn of events. Is there any legal eagles or someone who has gone through this?
I am currently living in our home till DD turns 18.
The mortgage is in both of our names. it has been paid on time since we bought the house.
XH received a Lot as part of his D settlement. The loan is bigger than its worth. His attorney thought it was worth about 15k more than actual value. That is why XH wanted it. My name is on that loan also and I know it was paid up to January and need to go to the bank and check the status. I have checked and he has already not paid the taxes on this which were due end of December.
XH is also responsible to pay a loan that is still in our joint names. He has already missed a payment and I made it to try and keep my credit up.
He has a good paying job but is drowning in debt because of all his wild spending on PP this past year. He took her away every month after he moved out including two - 1 week trips to Vegas.
She knows how to beat the system. It won't matter to him if he declares bankruptcy because she owns a house that he lives in and when they get married he can use credit cards in her name. I know she will plan a big wedding and everything that goes with it.
do I have any legal recourse?
I got an email from XH a little while ago. In it he states the following...
I am trying to pay what I owe. I am thinking about filing for bankruptcy, I am meeting with a financial planner I cannot continue to pay all these bills.
I do not know how the bankruptcy will affect my half of the house if you want you can buy my portion of the house for current market value. You have the money.
I am very concerned with this possible turn of events. Is there any legal eagles or someone who has gone through this?
I am currently living in our home till DD turns 18.
The mortgage is in both of our names. it has been paid on time since we bought the house.
XH received a Lot as part of his D settlement. The loan is bigger than its worth. His attorney thought it was worth about 15k more than actual value. That is why XH wanted it. My name is on that loan also and I know it was paid up to January and need to go to the bank and check the status. I have checked and he has already not paid the taxes on this which were due end of December.
XH is also responsible to pay a loan that is still in our joint names. He has already missed a payment and I made it to try and keep my credit up.
He has a good paying job but is drowning in debt because of all his wild spending on PP this past year. He took her away every month after he moved out including two - 1 week trips to Vegas.
She knows how to beat the system. It won't matter to him if he declares bankruptcy because she owns a house that he lives in and when they get married he can use credit cards in her name. I know she will plan a big wedding and everything that goes with it.
do I have any legal recourse?