How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask TJ, Esq. Your Own Question

TJ, Esq.
TJ, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 9779
Experience:  Licensed to Practice Law
9373668
Type Your Bankruptcy Law Question Here...
TJ, Esq. is online now
A new question is answered every 9 seconds

I am 61, divorced 3 years ago after 40 years of marriage ...

Resolved Question:

I am 61, divorced 3 years ago after 40 years of marriage and have not been able to work for nearly a year due to a neurological disorder. I was without any income for 8 months, but just started receiving disability of $1400 a month. I owe $60,000 in credit card debt. I see no alternative except to file for bankrupcy. My 3 questions are: #1. I want to make sure my ex husbands name is NOT on any of my credit cards. How do I find out? In our divorce I assumed all credit card debt, but not sure that helps. I do not want his credit affected or for them to make him pay. #2. I am trying to sell my house and may have a 15,000 profit. Should I use that money towards credit cards or use it to pay off my $9000 mortgage on this mobile home I bought for $14,900 and am now living in. #3. How far back do they look at your bank statements and credit card statements?
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  TJ, Esq. replied 6 years ago.

Hello and thank you for allowing me to address your legal questions. I’ll take them one at a time.

#1. I want to make sure my ex husbands name is XXXXX XXXXX any of my credit cards. How do I find out? In our divorce I assumed all credit card debt, but not sure that helps. I do not want his credit affected or for them to make him pay.

The easiest way to find out if your ex-husband is on the account is to call the credit card companies and ask. Your ex-husband can also tell you (if he doesn’t know, then he can look call the credit card companies or look at his credit report).

I will warn you that the judge’s order for you to assume the credit card debt has no effect on the credit card companies’ rights to force your ex-husband to pay if he is listed on the account.

#2. I am trying to sell my house and may have a 15,000 profit. Should I use that money towards credit cards or use it to pay off my $9000 mortgage on this mobile home I bought for $14,900 and am now living in.

The answer depends on too many unknown factors at this point. For example, it partially depends on your state’s laws with regard to homestead exemptions. If your state allows a large enough homestead exemption, then paying off the mortgage is a good idea. The homestead exemption means that your home is protected against creditors up to the dollar limit allowed. Some states don’t have a homestead exemption (Maryland, for example), some may allow an exemption up to a certain amount of equity (New York, for example), and some have an unlimited exemption (Florida, for example).

The answer also partially depends on when you plan to file for bankruptcy. This is because the bankruptcy laws do not allow a debtor to favor one creditor over another, and if that happens just prior to filing for bankruptcy, then the bankruptcy trustee (he’s the person who oversees your bankruptcy) has the legal power to reverse the transaction. In other words, he could force your mortgage company to give the money back so that it can be fairly divided among your creditors.

I recommend you consult with a local bankruptcy attorney who can guide you as to this type of strategy.

#3. How far back do they look at your bank statements and credit card statements?

The bankruptcy trustee can look back as far as he wants to if he is investigating a fraudulent transfer. A fraudulent transfer occurs when a debtor purposely transfers assets to another person with the intent to defraud a creditor. In other words, it is illegal for a debtor to give away his property in order to prevent it from being used to repay her debts. If the bankruptcy trustee suspects that occurred, then he has the legal power to review your records for as far back as he wants. That said, in the vast majority of cases, he’ll probably look back at just a few months.

A creditor may also review records from years past if it suspects fraud. This is because debts obtained through fraud are not dischargeable in bankruptcy. For example, if you lied about your income in order to be approved for a loan, then that loan may not be dischargeable. Unless there is some evidence of fraud, the chances of that happening is remote.

I truly wish you luck. Bankruptcy is not pleasant, but when it’s over it can be a huge stress reliever.

If the information that I provided was helpful, please remember to ACCEPT my post as that is the only way I will receive credit and compensation for my answer. However, please understand that my answer is meant for informational purposes only and is limited by the facts presented. Therefore, it should not be construed as “legal advice” and is not an adequate substitute for the retention of legal counsel. Thank you and good luck!

TJ, Esq., Attorney
Category: Bankruptcy Law
Satisfied Customers: 9779
Experience: Licensed to Practice Law
TJ, Esq. and 3 other Bankruptcy Law Specialists are ready to help you

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
< Last | Next >
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
  • It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem. Tony Apopka, FL
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
 
 
 

Meet The Experts:

 
 
 
  • FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
< Last | Next >
  • http://ww2.justanswer.com/uploads/FL/FLAandNYLawyer/2012-1-27_14349_3Fotolia25855429M.64x64.jpg FiveStarLaw's Avatar

    FiveStarLaw

    Attorney

    Satisfied Customers:

    3203
    Bankruptcy Lawyer. Experienced.
  • http://ww2.justanswer.com/uploads/TL/tleeders/2012-6-13_204815_TSL1.64x64.jpg Terry L.'s Avatar

    Terry L.

    Attorney

    Satisfied Customers:

    2204
    Better Business Bur 15yrs bankruptcy experience. Chicago Bar
  • http://ww2.justanswer.com/uploads/mnphillips2/2009-03-13_203105_10984459-249293407.jpeg Phillips Esq.'s Avatar

    Phillips Esq.

    Attorney-at-Law

    Satisfied Customers:

    950
    B.A.; M.B.A.; J.D.
  • http://ww2.justanswer.com/uploads/CO/cortrightlaw/2011-12-5_4117_Kevin.64x64.JPG cortrightlaw's Avatar

    cortrightlaw

    Attorney

    Satisfied Customers:

    490
    Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
  • http://ww2.justanswer.com/uploads/Jay1968/2006-12-03_004423_JoeRossPhoto.jpg JoeLawyer's Avatar

    JoeLawyer

    Attorney

    Satisfied Customers:

    376
    Attorney in the practice of Bankruptcy Law since 1996
  • http://ww2.justanswer.com/uploads/DY/Dylatess/2012-9-11_1968_BHBTemplePhoto.64x64.jpg dylatess's Avatar

    dylatess

    Attorney

    Satisfied Customers:

    370
    35 plus years of experience specializing in bankruptcy law
  • http://ww2.justanswer.com/uploads/US/USLawAnswers/2012-9-20_23143_20090105211638Headshot3b.64x64.jpg Brent Blanchard's Avatar

    Brent Blanchard

    Bankruptcy Attorney

    Satisfied Customers:

    315
    Twelve years experience in all aspects of debtor & creditor BK.
 
 
 

Related Bankruptcy Law Questions