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How Does a Bankruptcy Affect a Divorce Settlement

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  • 09-25-2014, 02:21 PM
    jeffer37
    How Does a Bankruptcy Affect a Divorce Settlement
    My question involves bankruptcy in the state of: North Carolina
    I am legally Divorced, however my ex and I are still in Equitable Distribution process. I filed chapter 7 and received a discharge. All of our credit cards were in my name with the exception of 3. I was an authorized user on those but not a co-applicant. She insist that I pay the balances of those cards off. The balances on the card are there because I had to use them to pay monthly utly and household bills, no extravagant purchases.My lawyer says I shouldn't worry, but I am concerned that the only thing preventing us from"settleing" our Equit. Dist. claim is this. By the time we go through the mandatory mediation and subsequent court trial, we will probably have spent more than the total balances all together. Should I be worried? My BK lawyer didn't seem to concerned. All that was mentioned was that chapter 7 doesn't dissolve equitable distribution? Thanks.
  • 09-25-2014, 02:42 PM
    llworking
    Re: Post Discharge and Divorce
    Quote:

    Quoting jeffer37
    View Post
    My question involves bankruptcy in the state of: North Carolina
    I am legally Divorced, however my ex and I are still in Equitable Distribution process. I filed chapter 7 and received a discharge. All of our credit cards were in my name with the exception of 3. I was an authorized user on those but not a co-applicant. She insist that I pay the balances of those cards off. The balances on the card are there because I had to use them to pay monthly utly and household bills, no extravagant purchases.My lawyer says I shouldn't worry, but I am concerned that the only thing preventing us from"settleing" our Equit. Dist. claim is this. By the time we go through the mandatory mediation and subsequent court trial, we will probably have spent more than the total balances all together. Should I be worried? My BK lawyer didn't seem to concerned. All that was mentioned was that chapter 7 doesn't dissolve equitable distribution? Thanks.

    Your BK attorney wasn't concerned because the matter had nothing to do with your BK. Those are marital debts that should be divided. One should not use credit cards to pay monthly expenses either. If you cannot pay monthly expenses with your regular income, then you need to reduce your monthly expenses.
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