Problem
I have estranged from my husband in May 2010. I was going through debt problems before my divorce. I had piled up around $45,000 credit card debt. I am doing a job right now. My ex-husband provides me with spousal and child support, yet a substantial part of my income goes towards the necessary expenses. I am not able to make payments on the debts. As such, my creditors have informed me that they are going to file lawsuit against me. This is why I am planning to file bankruptcy. I am a single woman and don't want to get into legal hassles right now. What I want to know is that, can my creditors pursue my ex-husband for the repayment of debt? He doesn't owe the debt and creditors have not said anything about suing him. I just don't want my ex-husband affected due to my bankruptcy filing. Both of us live in Austin, Texas.
Solution
Some states such as Texas, Arizona, California, Nevada, etc are community property states. So, this clearly means that you and your husband are living in a community property state. If you have racked up the debt after your marriage, then your husband is responsible for it even if his name is not appearing on the credit card bills. In a community property state, both husband and wife are accountable for the debt (accumulated post marriage) as it is regarded as a community property.
It completely depends on your creditors as to whether or not they'll contact your ex-husband for the repayment of debts. Once the court issues automatic stay after your bankruptcy filing, most creditors will not contact your ex-spouse for payment of the dues. They would not like to disobey the bankruptcy laws.
However, you don't know for sure whether or not the creditors will call your ex-spouse after filing bankruptcy. The debt amount is not small and there have been instances where the collection agencies have gone after the consumers even after filing bankruptcy. Even if all the debts are discharged, there is no guarantee that you'll not get into debt problems in future.
Bankruptcy is a costly and complex process. The bankruptcy attorneys charge a substantial amount of money as their fees. Moreover, there are quite a number of other fees involved in bankruptcy. Will you be able to afford it? Bankruptcy will also lower your credit score by nearly 200-250 points. So, I think you should analyze all the aspects before filing bankruptcy.
Have you tried to take advantage of debt relief programs to pay off your debts? If not, then I think you should enroll in a debt relief program. These programs will help you resolve your debt problems. You can enroll in a debt consolidation Austin program to overcome your debts successfully.
Last but not the least, you have to secure your financial future. Don't forget that you have a child to look after. The expenses will increase in the coming days. So, start looking for a job that pays you well. Enhance your qualification to get better jobs. You can also start a home business. Once you start earning well, it will be possible for you to get rid of debts sooner. Organize your finances in such a way that you'll not become overburdened with debt in future. Lead a happy and peaceful life with your kid.
Article Directory : http://www.articlecube.com
