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Dissolution of Marriage and assignment of debt
Posted: Mon Jun 28, 2010 3:50 pm
by Yahoo Bot
your question is inconsistent. If the debts are community debts, then the estate, which is created by the filing of your pc, will owe the debts, as all community claims are claims against a bankruptcy estate.
usually we try to get the two spouses, in these situations, to file together. That way there is no community debt to split.
dennis
The post was migrated from Yahoo.
Dissolution of Marriage and assignment of debt
Posted: Mon Jun 28, 2010 1:06 pm
by Yahoo Bot
PC came in for a consultation re: debt he has no contractual liability on but expects that he will be assigned as part of the family law court's division of community debt in the upcoming dissolution.
Debts are: of credit card in W's name only, of equity line on home that H/W lived in together but is titled and mortgaged in W's name only.
If he files BK now and lists the community debt (even though no contractual liability with those creditors) will it do any good?
If he files BK after he is assigned this debt by the family law court as part of the dissolution, will it do him any good?
I believe the answer is no to both-this debt (whenever assigned to the PC) would be non-dischargeable debt either way as the BK Court will uphold the family court ruling and if debtor doesn't pay those debts and the creditor goes after wife that she can then take him (the PC) back into family court for being in contempt of the family law dissolution order. Thus a BK is really no of no use to him (he has no other debt).
Please weigh in and correct me as needed.
Thanks,
Eva L. Taylor, Esq.
Borowitz & Clark, LLP
100 N. Barranca Ave., Ste. 250
West Covina, CA 91791
Ph: 626-332-8600
Fax: 626-332-8644
The post was migrated from Yahoo.