Never thought it could happen to us......

[MovintoOKC]

New to the BK world as well as the 'forums'. In excess of 55k in debt. 6 mths ago displaced from the mortgage industry, not able to pay bills. Movin to OKC in April. Wife 14 mths into a MS diagnosis, just today had 3rd MRI, as well as Spinal tap, meds, lost days from being dibilitated!!! Another reason for the move, to be closer to family. I'd like to read through all of these threads and plan to do as much as possible, though there's a level of retention with a mental disorder I possess that prevents me from being thorough. Here's my Q........ I've had an EX spouse that owes me a 100k disbursement from previous house {of which I'm still on that loan} she's 90+ days late in paying, we're in court for a 3rd time on the 30th....... If I file, and the creditors get wiped away, excluding that residence......... then in 60 /90 /120 days I finally receive that financial infusion, is it used to pay debts or is it for a new beginnig? Thx in advance for any assist!

[JRScott]

In your bankruptcy petition you would have to list her as owing you money and the amount owed. The Trustee then of the bk estate will sue her if necessary to get the funds since it is more than enough to pay off the accumulated debt.

In essence it would make you an asset case that might drag on for a year or two worst case scenario. You'd file, have the 341, go through the motions, then he'd either request payment and if she doesn't do it he'd sue her, you'd still discharge on time, but you would be caught up for a long time. Once he got the funds from her the creditors would file their briefs on what is owed them, he'd take his cut, disperse funds available to creditors to fulfill their briefs. Once all that is accomplished you would receive what's left. Case discharged.

With the ongoing medical issues, it might be best to wait on this issue until you have to file, in order words they are getting ready to sue you in order to maximize the amount of debt you can discharge....