Reply to Help! Need smart VA lawyer (or financial adviser)to help protect my sister from husband's debts

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Reply to "Help! Need smart VA lawyer (or financial adviser)to help protect my sister from husband's debts"

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[quote=Anonymous][quote=Anonymous]Legally she's on the hook for half.  That's the legal contract of marriage.  However, he can file separately for bankruptcy.[/quote]

The fact that you are aware that one half of a married couple can file for bk without the other half, should lead you to the understanding that it is NOT the case that all debts are necessarily joint.

What you are all forgetting is, the question of who's on the hook for a given debt IN THE CONTEXT OF A DIVORCE SETTLEMENT is entirely different from who is on the hook for a given debt VIS-A-VIS THE LENDER and its legal rights to sue out the debt.

Since bkptcy was raised -- this guy should NOT file for bankruptcy.  When a patient is still bleeding out, it is too early to file for bankruptcy -- first you need to stop the gushing wounds.  (Sorry for the mixed metaphor.)  Bankruptcy would ONLY be appropriate once this guy gets his problem under control (which would likely require psychological counseling) and is actually READY for a fresh start.  Otherwise, he will find himself right back in the hole, but without the ability to discharge any of the new debts for another 8 years.  Perhaps a better metaphor is: When the hole is still getting deeper, it's too soon for bankruptcy; bankruptcy is only appropriate once the hole is not getting any deeper, and you're really ready to climb out of it.

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