New Member
Posts: 5
Registered: ‎12-07-2012

going through divorce.. thinking of doing BK afterwards

To make a long story short I have about 40k in Student Loans (which Im assuming cant be in the BK) $45ish in ccard debt, and 2 mortgages (both have renters, one is under water.. my ex and I want to sell these)


So far nothing has been divided in court yet (our temp hearing is in two weeks) I am pretty sure I want to try and file BK7 after the divorce. Currently Im unemployed living on $800 of unemployment. My ex is giving me no money. He makes around $125k a year.  My score is around 530-600


Do you have any advice as to what I should be doing NOW?  what debt would be the best for me to take (assuming I will be going bankrupt when ths is all over) in the divorce?  I have no money to pay anything now.. but anything I should be doing or preparing?

Established Contributor
Posts: 993
Registered: ‎11-08-2011

Re: going through divorce.. thinking of doing BK afterwards

[ Edited ]

If you're going to go through a BK, and only if you're 100% certain: then stop paying on your debts (assuming you haven't).  Might as well get the 7 year clock ticking early.


You're boned on the student loans, but there is hope to get those wiped out.  Go find a job @ that includes student loan forgiveness.


If you do file BK, you just let the ex deal with the houses w/ the renters.  They aren't your responsibility after a BK.


Also, I don't know what state you're in, but you probably need a better lawyer if he makes $125K and you're not getting a dime in the divorce.  That's crap.  A good lawyer will collect attorney's fees from your ex, too... so don't worry about that.


The only other thing you can do is start saving for a good BK lawyer.  Depending on your state, it should run you around $1500 to do a CH7.  Sure, you can file pro-se and save a lot of that, but would you change the brakes on your car and trust it to stop?  (I know how to do brakes and won't change mine).  Also, you could hire a paralegal or lousy firm to handle it for <$1000, but again, I wouldn't let the fry-chef at McDonald's cook my rib-eye if I wanted it perfect the first-time.





I am not an attorney and none of what I write should be construed as legal advice. For legal advice please consult an attorney.

Starting Score: ~470 preBK(8/2010)
Current Scores as of 3/15/14 All 700+. Last CR pull from a lender(housing) was mid-score 729.
Goal Score: 700+ - reached.
New Contributor
Posts: 59
Registered: ‎07-20-2012

Re: going through divorce.. thinking of doing BK afterwards

I am sorry to hear about your divorce.  It is never easy.  Can you give us an update?

MyFICO '08: AUG2014: EQ=707, TU=693, EX=711
MyFICO '08 JUN2014: EQ=700, TU-688
MyFICO JAN2014: EQ=704, TU=720, EX=708
MyFICO MAY13: EQ=701, TU=708, EX=705 (Lender Pull).
MyFICO JAN13: EQ=701; TU = 677) 2 years after filing BK7, 18 months after discharge in JUN11
MyFICO (SEP12: EQ=677; TU=670) 16 months after discharge BK7.
MyFICO (JUL12: EQ=671) 13 months after BK7.

Wallet: NFCU Rewards: $25K; Cap1 QuickSilver: $2250; Barclays Apple Rewards: $2000; Cap1 Rewards: $1500.
Established Member
Posts: 21
Registered: ‎12-11-2007

Re: going through divorce.. thinking of doing BK afterwards

I'm so sorry that you are going through all of this! You will be like Dr Maya Angelo's Liam soon and say "But Still I Rise" I went through a divorce and although he made 85k he was debt heavy in mortgage debt I was not I'm sure although my Ex makes more money, financially he is not as healthy. BK changed me not him he had filed 3 times in his lifetime for me, once was enough! I wish you the best and prayers your way!

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