Hello, I have the following situation:
Divorced and spousal support
ordered and garnished. Still co-own house with exspouse and it has been ordered that it should be put up for sale, however I am still liable according to the judgement to pay for mortgage, real estate taxes and utilities. So far my ex-spouse has refused to accept offers on the house and has generally been very reluctant to put it back on the market after it was taken off becuase it had been sitting for too long. She is basically getting all of the equity in the house.
I owe a bank a substantial amount of money + credit card debt because I ended up paying for both attorneys. Have now used up all available funding and can't meet all payments any longer based on my salary alone.
Out of two eveils I have to choose one:
a: Fail on the mortgage payments for the co-owned house which I have been ordered by the court to pay or -
b: Fail on the payments for the bank loans and credit cards. I've already negotiated payment arrangements with the bank on the loans but I still can't keep up.
Which one is the lesser evil?
My attorney has advised against failing on the mortgage payments but then I am most likely facing bankruptcy as far as the the unsecured bank loans and credit card debts are concerned.
Appreciate any feedback you can provide.