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geekmom
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(recently joined)
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07/07/09 12:44 PM
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Scared Out of My Mind...
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My STBX and I have just separated and I'm going to go see a lawyer/mediator tomorrow morning. We are amicable so far and I don't think we will end up with a contested divorce. We have 2 children, but are planning on some kind of split custody arrangement for them, so that should not be a sticking point.
<Big breath here> The main thing I fear is the finances. 3 years ago, I found out that he was mismanaging our finances. He was using credit cards to pay some bills, then opening new ones I didn't know about. I took over the finances at that point, got us into a debt management program, and have been struggling ever since to try to fix the damage. Our credit scores are both in the toilet to the point I had to have my parents co-sign on my new apartment lease. It's pretty bad.
Now, with us separating, I'm not sure how he is going to afford the house payment. For my part, I have $37 to my name until my next paycheck. I know I will likely end up with a lot of debt out of this, but can his actions be taken into account? I have done nothing but try to fix this mess since I discovered it. I'm really hoping that bankruptcy is not my only option here. 
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Yes_Dad
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(Carpal \'Tunnel)
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07/09/09 12:00 PM
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Re: Scared Out of My Mind...
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It's joint marital debt, one of the bad things about marriage. Check if your state is equitable distribution and perhaps you can work something out that way
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geekmom
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(recently joined)
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07/10/09 10:48 AM
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Re: Scared Out of My Mind...
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Yep...I looked into it and yes, my state has equitable distribution, so the fact that I worked so hard to get my career back on track and earn nearly as much as he does will count against me. I'm going to meet with a bk attorney and see what my options are.
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Re: Scared Out of My Mind...
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how does you earning more count against you
I'm confused?
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Yes_Dad
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(Carpal \'Tunnel)
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07/11/09 10:09 AM
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Re: Scared Out of My Mind...
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Quote:
how does you earning more count against you
I'm confused?
I think that was just a comment in general. Unfortunately, speaking from experience, her husbands mismangement of funds, while they were married qualifies it as a joint debt. It sucks but it's true.
And even WORSE example was mine, where my ex and her mother took out a Chase card with a limit of $10K which her mother used as cash advanced for gambling. My name was no where on the card. Wife declared BK WITHOUT my knowledge. ex-MIL couldn't care less about the debt. Guess who they came after.....me...
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