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Ask Ellen Your Own Question
Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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My wife is looking at divorcing me. We have 3 kids under the

Customer Question

My wife is looking at divorcing me. We have 3 kids under the age of 18. I make approx. 60,000. She makes approx. 30,000. Part of the reason why she is divorcing me is because I have a gambling problem. All of my credit cards are max out at approx. 80,000. The interest are high and I'm unable to make all the payments. We have very little to no assets. She has a car that she pays for and I pay for my car. The home is worth less now than what we owe, bought it two years ago. She will probably take the kids and leave me with the house since I can make the mortgage payment. Should I file for bankruptcy now or wait until the divorce is finalize?
Submitted: 7 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 7 years ago.

It may be helpful for you and your wife to file a joint bankruptcy prior to the divorce. This would eliminate liability to both of you for the house and any joint debt.


Customer: replied 7 years ago.
The only thing we have joint is the house. She absolutely does not want to file bankruptcy. Her credit is pretty good. Would it be more beneficial for me to file before or after the divorce? What are the advantages and disadvantages before vs. after the divorce?
Expert:  Ellen replied 7 years ago.

Since marital obligations would not be effected by the bankruptcy, it would appear to make no difference if you file before or after a divorce.
Customer: replied 7 years ago.

This is really stupid, of course it make a difference because depending on what happens with the children and financial obligations will definitely impact the the bankruptcy. This is suck a rip off.

Expert:  Ellen replied 7 years ago.

Your understanding appears incorrect.

Section 523 of the Bankruptcy Code excepts from discharge both property settlements and support obligations. Thus it does not make a difference.

You can read the Code here: