Me and my husband are getting a divorce...I need

[boandmeg05]

help about our finances....? Me and my husband have finally came to an agreement on getting a divorce. But, we have about $16k in debt together and seperate. We are wanting to file bankruptcy. But, someone told me that we could file bankruptcy and make it fall on him. Is that true? Also, what all is involved with a bankruptcy? I live in Alabama. I really need to know all of this that way when it comes down to getting all this done, we can have it done and over with.

[basketcase88]

You really need to be asking these questions of either a good divorce lawyer, or a good bankruptcy lawyer. There are too many teenagers here who don't know squat about this who might give you an answer anyway. Please, don't ask for legal advice over the internet--ask a lawyer. You can tell I'm not a teen because I'm spelling properly and using punctuation.

[G Goodnight]

I think you would not be happy with yourself in the long run if you tried to stick your ex-husband with the bankruptcy. It is not who you want to be,. I know emotions run high in a divorce, but you want to be a person of integrity and do the right thing, and you want to do this for yourself. First determine based on income and who did the spending, how much of the debt you are both responsible for. Then divide the debt by transferring the debt to credit cards in your names only or by getting loans in your names only. Get your divorce where it is specified that you have divided the debt and you are responsible for your portion. Then you each can file bankruptcy if you choose. But be warned, if you file bankruptcy it will ruin your financial outlook. You will never get a decent loan or buy anything sustantial. Sure over time things may change but it takes a really long time and it never totally goes away. If you can divide the debt fairly and figure out a way to pay it off, you will be so much happier later. You will regret filing bankruptcy long after the divorce is over and behind you. There are many consumer counseling services and creditors are always willing to work with you.

[tklescz]

My advice to you would be to get a current copy of your credit report. From there, contact your creditors to see if a repayment schedule can be arranged. Another route is to contact a consumer credit counselor who can contact the creditors for you. After this is done, and you know exactly how much debt you have, you and your husband should meet with your legal counsel and between the four of you, you can agree on who pays what. Get it in writing both is the separation and divorce agreement and send all creditors a copy of the agreement. Then be vigilant about making your payments. If you go bankrupt, your credit will be destroyed. It can keep you from renting an apartment and from getting insurance, etc. at good rates. What will happen if you want to buy a new home or a new vehicle? Please discuss this with a good attorney before going any further. Best of luck to you...