Facts: I take home $30,000yr now, was $90,000. My house & car payments alone are $32,000yr. I absorbed loans & credit card debts
from divorce, payments come to $45,000yr. Financial advisor says YES to BK.
I cashed out my 401k
, $76,000. Paid my employer back for a $30,000 loan, put the rest $46,000 into my new business, Go West LLC bank account, for future side jobs, home investments, to subsidize my income. $16,000 of that I need to save to pay taxes
. So $30,000 is what i have left to try and make some extra $$.
1. Can this $30,000 be taken, if I file BK? If so, What can I do with the $ so it isnt taken from me?
2. If it's invested in a house remodel, so bank account shows $5000, can that still be a problem?
3. Financial advisor also stated since the divorce decree states theres a family Diamond ring, given back to me, that the ring might be taked also??
4. Ex is court ordered to pay 1/2 credit card debts, she hasnt pd. How does BK effect that? they're in both our names?