Archive for the 'Personal Finance' Category

What are the drawbacks for one partner in a marriage filing for bankruptcy?

Sunday 18 May 2008 @ 7:48 am

N L asked:

My marriage partner is not willing to file for bankruptcy, as I am. I have debt in my name that I am wanting to be expunged. I am not working, and I only have a few monthly bills (i.e. cell phone, cable) in my name.

Is it better to proceed and try to have my debt discharged, or to wait and see if he will be willing to file later down the road- together?

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Comments (2) | Posted in Personal Finance

What happens during a divorce with a house and a mortgage?

Wednesday 16 April 2008 @ 12:06 am

vandit asked:

My situation is this. My mom wants to go through a divorce from my dad after being separated (not legally) for more than 6 years. All this time my mom has been paying off mortgage payments for the house herself among other bills. If they go through the divorce process, can my dad legally get a piece of the house when my mom sells it? Can anyone shed some light in this.

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Comments (11) | Posted in Personal Finance

What kind of lawyer should I go to if I need assistance with both divorce AND financial matters immediately?

Wednesday 12 March 2008 @ 2:14 pm

Tara asked:

In other words, I am going through a divorce for financial reasons. I am not going to declare bankruptcy, but need legal assistance to deal with creditors. I have a small but steady source of income; enough to pay for a lawyer on a payment plan and enough to pay back what I will owe to bills and creditors, but the creditors WILL NOT work with me and I want to do it all through a lawyer.

I make too much to qualify for Legal Aid or any other assistance of that sort.

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Comments (3) | Posted in Personal Finance

How do I take money out of a bank account and hide it before a divorce?

Wednesday 13 February 2008 @ 3:17 pm

FREDDYN asked:

I have accumulated a nice amount of assets simply by saving and investing. Some of it before I got married, some while married. Now I want to divorce but don’t want her to get half of the funds. We have a joint account that has a little bit of money that I don’t mind splitting with her, but my personal funds I want to hide. There are obviously records of what is in there today, and will be records of any withdrawals I make between now and the divorce. I was thinking about withdrawing the funds, purchasing gold or high valued coins, and storing them in a safety deposit box listed in my mother’s name. During the divorce will I be held accountable for funds that were once in my personal account but are now gone? Does anyone have a better idea on how to move the funds out of my accounts and out of the site of the divorce laywers? PS – she doesn’t know I am planning on divorcing her yet. I want to figure out this money thing first. Please help.

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Comments (14) | Posted in Personal Finance