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jssphx
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Reged: 10/20/07
Posts: 7

Division of debt

#502138 - 02/09/09 11:12 PM

CA divorce. Married 6 years. STBX filed for divorce in late 2006, reconciled until late 2007 and have been separated since. Debts were roughly equal -- 35k in her name and 15k in mine + another 20k joint that I have been paying. Pursuing final settlement has been an absolute nightmare.

She was fired from her job in early 2008, filed for CH7 bankruptcy (discharged in summer 2008) which put the divorce on hold, and has been unemployed since. Know the economy sucks, but 12 months seems like a reasonable amount of time to get a job, any job.

Sent a MSA over basically stating that I would take the $35k in debt, keep the $20k in my 401k, and that she would waive SS (due to the 15k disparity in debt/asset division). She refused to sign and is claiming that the 35k in my name/joint is my sole responsibility, that she should get half of the 401k and be entitled to SS because she is unemployed. Know debt is divided 'equitably' in CA, but this is something like me getting $35k in debt, $10k in assets and a SS bill on top of it all. Am paying CS, but thats not an issue and will go collect cans if I have to for my son.

No idea what to do at this point and the cost of fighting this (and custody) is getting out of hand -- around 9k so far. Any chance a judge would divide the debt and asset? I could afford some SS under those circumstances, but not with what I'm facing now.

Stuck between a rock and a hard place. Would really appreciate any suggestions.

Edited by jssphx (02/09/09 11:16 PM)

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