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dylatess
dylatess, Attorney
Category: Bankruptcy Law
Satisfied Customers: 5142
Experience:  37 plus years of experience specializing in bankruptcy law
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for PaulMJD My husband wants to file for divorce and has asked

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for PaulMJD
My husband wants to file for divorce and has asked me if i would be willing to file for bankruptcy together. He is the one with more individual debt than me. He claims this would allow him to help me out more (financially). & our mortgage is behind 4 months, and our request for modification was denied. I told him maybe we should acquire the services of an attorney that specializes in mortgages instead of a bankruptcy attorney;he said the bankruptcy attorney can help with the mortgage
Over 34 years, I have assisted my clients with debt problems having filed more than 32000 Chapter 7 and Chapter 13 Bankruptcy petitions.

My first reaction is to agree with your husband. That is because you live in a CP state. And if he files, and you don't, the creditors will pursue you. Likewise, once the bills are discharged, your.husband will be in a better position to pay support. Further, a mortgage attorney cannot force your present lender to modify your loan. But if you file a BK, there are options that may be available that you do not have if you do to file a BK. I wish you both well.
Customer: replied 3 years ago.

our current credit is not good, and i good friend offered to help me co-sign for a car. should i wait until after the bankrupcy filing to acquire the car? or before we begin? i currently have no transportation.

forgot to mention...i have been on social security disability since 2007, & i have a student loan with sallie mae but my husband was the cosigner. he told me that the bankrupcy filing will not help cover the loan. the accounts we have together in-name are the cars (3) & the house & timeshare. i dont want to lose the timeshare which i have been paying on-time, & i reside in the house with my daughter(12), & sons(18&20). what is best for me?

I still agree that a BK makes the most sense. Likewise, so long as you keep paying on the house and time share you can keep these debts. You can also acquire a car now and not wait. Your husband is also right about the student loans.

I hope this helps. Please rate my answer ok or better so that I can compensted for assisting you.

Customer: replied 3 years ago.

if I acquire the car before the bankcrupcy, will my friend (co-signer) be affected?

NO, your friend is not part of the BK and will not be affected. Likewise, so long as the car payments are made on time, it will not affect you either.
Customer: replied 3 years ago.

So it is best to acquire the car first, and then file bankcrupcy, right?

YES, that is my advice. I wish you well.

Please rate my answer ok or better so that I am compensated for assisting you.

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