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Here's the skinny:
1. CC debt of about 45k
2. Going through divorce
3. Staying in house
4. Can't pay school loans because of CC debt

When we were married, we turned to consumption looking for happiness...big mistake. Life lesson learned...

We are filing for divorce, but have been separated about 6 months (she has lived in a different state).

We both have Toyotas with both our names on them. I plan on paying for mine just as I am now. Will BK show up on her credit because my name is on her car?

I am considering BK because I can't even begin to pay school debt as CC payments are eating all disposable income. I was out of work for a while and lived off of CCs for a bit, which only hurt matters.

Should I consider BK so that I can pay school dept as opposed to constantly putting them into forbearance? I have some personal loans with a cosigner acquired in college used for school, but not federally guaranteed (i.e. Wells Fargo Education Loans). Can I continue to pay on those so that my cosigner isn't hurt?

Please weigh in with your thoughts and concerns. Thank you dearly!

[lrprn]

Welcome to BK Forum - glad you found us!

We are filing for divorce, but have been separated about 6 months (she has lived in a different state).

Which state did you live in when you were married? If it was a community property state, that will change things.

We both have Toyotas with both our names on them. I plan on paying for mine just as I am now. Will BK show up on her credit because my name is on her car?

If you file alone and are keeping the car payments up, no. She does need to check her credit report periodically to dispute anything related to your bankruptcy and get it corrected right away.

Should I consider BK so that I can pay school dept as opposed to constantly putting them into forbearance?

Sounds like you need to do something because you can't keep the loans in forbearance forever.

I have some personal loans with a cosigner acquired in college used for school, but not federally guaranteed (i.e. Wells Fargo Education Loans). Can I continue to pay on those so that my cosigner isn't hurt?

Depends on if you intend to file Ch 7 or Ch 13. Which one are you hoping to file?

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Thanks for the help!

I live in CO, and to my knowledge it is not a community property state. Is that a good thing?

I am hoping to file Chapter 7, and believe it might be possible since average monthly income seems to be computed by 6 months of income prior to filing and I was unemployed for most of those. I know that cosigners are protected under Chapter 13, but if I file (successfully) Chapter 7 could I continue to pay those personal education loans so that my cosigner is not held responsible?

Thanks again!