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Terry L.
Terry L., Attorney
Category: Bankruptcy Law
Satisfied Customers: 2815
Experience:  Better Business Bureau. 18yrs bankruptcy experience. Chicago Bar Assoc. American Bankruptcy Institute member.
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My husband and I were separated x 9 months. After he came

Customer Question

My husband and I were separated x 9 months. After he came back he stopped paying his credit cards and all of his debts in his name except his car loan. I have managed to dig myself out of the financial hole he put me in and just got caught up on my end over the past few months. Creditors are always calling for him to the put where we moved the answering machine and no one answers the phone. What will happen if this continues. He retired and has some money in a savings in his name only from a retirement roll over. We have a home in both names of which I had to take out loans from my pension to get caught up on. Bankruptcy is not an option at this point. We went through that in 2000. I need to keep myself on track to apply for school loans for my daughter who is in college and we have a 16 yr old at home. My question is what could happen next so I can prepare myself. He is stubborn and won't listen to me but I need to protect myself, home and children.
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Terry L. replied 7 years ago.
Creditors have the right to collect on a debt. They can sue, freeze assets like bank accounts, garnish wages, or even put a lien on real estate if the debt is not paid.
Bankruptcy could be an option, to discharge the consumer debt, or else perhaps a chapter 13 repayment plan to consolidate secured debts and pay off unsecured debts as low as 10 cents on the dollar. Joint debts are equal responsibility, as are debts incurred during the marriage if you live in a community property state.