After a nasty divorce, can I file bankruptcy? 14 Answers as of July 04, 2013I would rather loose my assets to the state that hand them over to my wife. How much debt do I have to have to be able to file for a chapter 13 or chapter 7 and have the bank take our house and the car that I bought for her?
Law Office of Maureen O' Malley | Maureen O'Malley
Yes, you can file bankruptcy, but you need to consider if her name.is on the title or the debt with you, and whether the court ordered you to pay our to hold her harmless for the debt. If you're ordered to pay, bankruptcy won't discharge those debts. If her name is on title our debt, you may have to get her consent.
Answer Applies to: Virginia
Cartwright Law Firm | Andrea Cartwight
The reason to file for bankruptcy is because you no longer can afford to pay your creditors and to give a honest debtor a fresh start. You have not indicated that you are having any financial problems meeting your financial obligations. In addition, if certain property was awarded to you ex-wife in the divorce, then you may no longer have an interest in the property. Finally, debts arising out of a divorce are non-dischargeable. If you are experiencing financial problems, then you should consult with a bankruptcy attorney.
Answer Applies to: Michigan
The Schreiber Law Firm | Jeffrey D. Schreiber
That depends on what the divorce decree provided if you are now finally divorced, for example if you are required to pay some debts and hold her harmless, then those debts could be non-dischargeable, or if your divorce is not yet done, if you file bankruptcy it may affect how the divorce judge would divide assets.
Answer Applies to: California
Jackson White, PC | Spencer Hale
Well if your wife keeps paying the mortgage and the car payment it does not matter if you file bankruptcy. She will keep those two assets. There are a multitude of issues that surround bankruptcy and divorce you ought to meet with an attorney to discuss these issues.
Answer Applies to: Arizona
Ashman Law Office | Glen Edward Ashman
You may have asked a question that will land you in jail. To the extent a divorce court orders you to pay something to a spouse, that obligation is usually non-dischargeable. So if you stop paying a house or car that the divorce says you must pay, and do that deliberately, at some point that divorce judge will decide to punish you, and that punishment might be a significant stay in jail (and paying for her lawyer). (There is no minimum amount of debt to file bankruptcy, although the amount and type of debt may affect whether it is smart to do so).
Answer Applies to: Georgia
Colorado Legal Solutions | Stephen Harkess
If your divorce orders require you to pay certain debts, then you can only address this obligation in a Chapter 13 case. A Chapter 7 filing will still leave you open to contempt of court charges filed by your ex-wife.
Answer Applies to: Colorado
The Law Office of Mark J. Markus | Mark Markus
There is no minimum debt for any bankruptcy chapter. As for what will happen to your assets, it depends on what chapter you file, the value of your assets and the amount of exemptions you have under applicable law. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period.
Answer Applies to: California