Help-property problem

[TTINC]

I was planning on filing Ch7 on my own without my husband due to a lot of personal debt I guaranteed from a business.

I met with 2 attys. & picked the firm I felt the most comfortable with. When I went in to file yesterday they told me that I could not do a 7 & I would have to do a 13 because of a property that has both our names on it.

The property is a 3 unit rental with less than $1000 of equity. Until March we lived in one of the apartments. My husband wanted to move out of there and he just purchased a new house in his name only.

The attorney said that I can't do a 7 unless we sell the property and use the money to pay creditors. Even if we sell it we will lose money so I do not understand what the point of that is. Also, my husband refuses to sell it. His attitude is that my money problems are my problems not his.

I called the other firm that I had been to and they said that I could still do the 7. I have an appointment on Wed. for another opinion.

Does anyone have any input on this type of a problem?

[HHM]

I would tend to agree with the first firm, if your GOAL is to keep the rental property, a chapter 7 could prove problematic. The 2nd firm is right, you CAN file a chapter 7, but you may lose the rental property if you do.

The reason being, even if you live in one of the units, there is no way to exempt it if you buy a house, and its revenue generating. Honestly, you are probably are better off in a 13.

Incidently, if you and your husband can file BK, how are you able to afford a house? Just because things are in your name or his name only, the BK court really isn't going to care, marital assets are presumed joint assets (because you have equitable intersts in his property and vice versa).

[TTINC]

Thanks for the advice.

I am filing myself from business debt. My husband can afford his bills, but not mine too. We were recently married. All these problems started before the marriage. He refuses to get involved with my financial problems. We purchased the rental property together before we were married and both names were on it because we weren't married yet.