My Current Situation:)

[fancy_92]

Hi, I have read your forum off and on for awhile and learned a few things, but would like input on my current situation. I had been married for almost 8 years and we managed money awful! We both had great jobs, he made 72,000 and I worked my way up to 54,000. Money became a big issue as we had enough bills that it took all of our incomes to pay them all each month. We split in August 2005, I moved out and got an apartment for a few months then moved in with my boyfriend/parents depending on when I have my 8 year old son who I have shared parenting, but signed that I didn't want support for because I figured I was making enough by myself I didn't want to take his money too. Divorce was final in December 2005. I planned on really paying off my 15,000 cc debt. February 2006 I was locked out from my employer I went from making 2800 a month clear to 1600 on unemployment and that's not having federal taxes taken out, then when I filed my '05 taxes it turns out since I wasn't married and couldn't claim my child this year I wound up with a 1800 income tax bill that I am making payments on. My car payment is 608 a month and still in my ex's name and also my own. My credit score was about 650 with a couple late 30 days so I wasn't able to refinance it into my name only as the court documents said from our divorce. Now, unemployment is gone and I'm living on 150.00 a week until our union and the company settle on a contract. I saw a lawyer and he said I can file on the 16,000 cc debt, but must keep the car and reaffirm it and irs. I also have been trying to find a job and cannot get one because of my last employer being in a labor dispute, nobody wants to hire someone and train them so that they'll leave when the company calls them back to work. Is there any end in site???? Any suggestions? Thanks so much!

[SinkingFast]

There have been a couple of people post here where they were in situations from Divorce Decrees where they could not file BK, or BK would not substantially help them.

Sounds like the attny advised you to reaffirm the car loan due to the verbage of the Divorce Decree. But really that makes no sense. When an attny signs off on a Reaffirmation agreement, the attny has to reasonably believe the loan payment will not cause undue financial hardship to the Debtor/Filer. In your case, your car payment is $608, plus, you have a Priority Debt,.......... Your IRS tax payments. Reaffirming the car loan would definitely be an undue financial hardship.

There are attnys that specialize in Family Law and file BK's for their Divorce Clients. Maybe you need to Consult with one of those types of attnys. Or possibly go back to the attny that handled your Divorce and ask what implications your BK would have on your current Divorce Decree.

[rrockinggramma]

perhaps in this case you could file your chapter 7 and then do a 722 redemption on the vehicle? That might get you out of your situation. 722 will finance those in BK, that is their speciality. But it goes through your lawyer and the trustee to do it. If the vehicle is ONLY in your name then it won't affect your ex at all.