Newbie question

[bucks]

Going through divorce - spouse is out of the house since early summer & bills are piling. Spouse defaulted a few times & then stopped paying mortgage in April & is keeping all the money to himself. Because of the default & required escrow mortgage is now more than 2 times the amount - more than I make. I expect to get some child support soon - there is a court motion pending. Settlement is being worked on with some repay to me of the dissipated money. My question is - do I file now or wait for the court decision? Do I risk losing the money if it is awarded after I file? How long can I wait?

[kornellred]

Your situation is complicated - pending divorce commingled with inevitable bankruptcy is a great challenge. A consultation with a bankruptcy attorney will help you understand what your options are - the outcomes of the divorce and a possible bankruptcy filing do not depend upon each other.

[HHM]

No one, not even the trustee can get child support. If there is going to be a lump sum payment, it is best to set up a separate account so as not to commingle the funds with other money.

In general, unless there are non-exempt assets to be divided, in a non-community property state (e.g. New York), it is better to file a JOINT BK-7 prior to divorce. It makes the divorce easier and cleaner. However, if there is too much income for a joint BK-7 (meaning, a joint case would be chap 13) or the relationship is such that a joint BK is out of the question, then generally you want to wait until after the divorce is final before filing BK.

Those are only general guidelines and there are exceptions. So, get with a BK attorney in your area to map out the best strategy for your circumstances.