My wife left me and I incurred all the debts she incurred. Can you help me?
Another reason that people get into debt is because they made the wrong choice in partners. See, The Debt Trap: How Your Life Choices Impact Your Financial Future, Chapter 2.
If you are stuck with debts because you had an ex who was a problem, you may have to file a bankruptcy to get a fresh start. If you fell behind on a secured debt such as a mortgage or vehicle which you want to save, you would file a Chapter 13.
Mr. Taieb recently helped a 50 year old man from Medford, NJ who had a horrible relationship with his ex-wife and her whole family and incurred substantial debt due to the matrimonial expenses which forced him to file a chapter 13 bankruptcy since he wanted to protect some property. Also, more debts can be wiped out in chapter 13 from divorce obligations which cannot be wiped out in chapter 7.
If it is just credit cards or a lawsuit, then you would file a Chapter 7 if you qualify and are under the median income. However, if there was a property settlement agreement, you should file Chapter 13 because of the discharge exceptions for certain divorce obligations.
Either bankruptcy will create a stay except in limited circumstances regarding prior bankruptcies dismissed within the last year which you must discuss with the lawyer. However, if this is a 1st filing there is no issue with the bankruptcy stay.
Thus, if you made a mistake and incurred debt because of a poor choice in your relationship, you can either file a Chapter 7 or Chapter 13 depending on your circumstances.
If you have any questions concerning this matter or any other matter contact TAIEBLAW at 856-235-4994 or visit our website at TAIEBLAW.COM, and schedule a FREE initial consultation.
Steven N. Taieb, Esq. has been a South Jersey Bankruptcy Attorney for over 34 years and is board certified in consumer bankruptcy law by The American Board of Certification which is accredited by The American Bar Association.