divorce settlement bankruptcy
Is filing for bankruptcy the right thing to do after a foreclosure and large credit card debt?
Due to my impending divorce, I have 25k in credit card bills and a foreclosure. The house was in both our names, and the credit cards are in my name. Should I file for bankruptcy now or wait until my divorce is complete? How much can my husband be held accountable as he he agreed to pay mortgage in a mediated settlement and did not ( hence the foreclosure), and he had been paying the cards and stopped. I know live in a rental with my child, am borrowing a car, and make 32k as a teacher in the state of Tennessee. What should I do?
First off, sorry to hear about your situation. An impending divorce and having to worry about your next big hurdle – the future and possibly bankuptcy!
The other responder was correct – check with the attorney handling your divorce. Most will advise you wait until after the divorce to file, otherwise it can put the divorce proceedings on hold. My Sister is in the same situation right now and was told to wait until after the divorce is final before filing (chapter 7 bankruptcy) in her case.
Best of luck to you… hang in there!
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