Coming After The Ex

After a divorce, April is considering filing bankruptcy, but Dave tells her why she shouldn't make the decision based on fear.

QUESTION: April just got divorced, and her now ex-husband is bankrupt. People are coming after her for the cars and the house that went to him, because her name was on it, but the divorce decree says she doesn’t have to pay. He also took out a cash advance store loan in their names. Can she get out of this without filing bankruptcy?

ANSWER: Divorce papers don’t take you off of the liability. Take a wait-and-see attitude. You can let the attorney know that you never signed for any of that cash advance debt. You are not liable for any debt that you didn’t sign for. They can, however, come after you for debts that you signed on. You may have to hire an attorney in order to not pay that bill.

Call the people you owe and say you’re a broke divorcee and you can’t pay them right now. You’re not bankrupt today just because he filed bankruptcy. Just the fear of what might happen doesn’t make you bankrupt. Don’t file bankruptcy on what might happen. You can address these debts individually as they come up. But don’t file over threats or something that isn’t happening.

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