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Question
I need some questions answered and not sure where to go. My ex husband just told me he filed for bankruptcy, however, when I checked with the clerks office, nothing has been filed yet. Our divorce/separation papers state that we need to split all costs for our timeshare; all costs until its paid for or sold. Can he go bankrupt and renag on his court order to split it? Is it indeed mine? How can I protect myself or is there nothing I can do? Does he need to notify me since this timeshare is in both our names? Do I need to get an attorney?
It may depend on what kind of bankruptcy a person files. For example, there is now a provision in Chapter 7 which says that debts arising from marraige disolution settlements and judgements are not dischargeable. However, that provision is lacking under Chapter 13. A person in your position probably needs a lawyer, however there might not be enough money at stake to make that worth while.
I am guessing that the real issue here is that you are worried about your credit, and you fear that your husband will let the payments go delinquent and cause ruin to your credit?
It might make more sense for someone in your position to have the former spose sign over the asset, and you be the one who owns it and pays for it. (I am assuming that the money owed on the timeshare is more than the timeshare is worth.) That would probably require amending the divorce settlement.
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Answers by Expert:
Los Angeles Bankruptcy Lawyer Leon D. Bayer
Expertise
Leon Bayer has successfully represented clients in bankruptcy for over 30 years. He is frequently called upon by the media, the California Bar and other associations to provide insight and help educate attorneys on bankruptcy issues. If you or other readers want to keep up with my blog postings about life in and out of bankruptcy, you can follow my blog at http://www.bankruptcyblogger.org/ and my personal web site at http://www.debt-relief-bankruptcy.com and A Human Guide to Bankruptcy at http://www.thebankruptcyguide.net/ Leon also writes about bankruptcy law for Nolo, see http://www.nolo.com/law-authors/leon-bayer.html and his "Ask Leon" bankruptcy law blog column at http://blog.nolo.com/bankruptcy/
Experience
Leon is a Certified Specialist in Bankruptcy Law by the State Bar of California, and has been a practicing bankruptcy lawyer in Los Angeles, California for 33 years.
Organizations
National Association of Consumer Bankruptcy Lawyers, California Bar Association, Los Angeles County Bar Association.
Publications
Author, ?The Essentials Of Chapter 13,? Daily Journal Report, December 18, 1987.
Contributing Editor, Basic Bankruptcy, California Practice Handbook, Matthew Bender 1992, 1993.
CEB Consultant, CEB-Personal and Small Business Bankruptcy Practice in California, 2003.
Education/Credentials
B.A., J.D.
Awards and Honors
President, 1995-1996-Los Angeles Bankruptcy Forum; Member - Los Angeles County Bar Association Committee on Commercial Law & Bankruptcy, 1988. Law Advisory
Commission-Personal & Small Business Bankruptcy Law of the State Bar of California, 1996-2000
MR. BAYER SAYS: The big banks and credit card companys have been working overtime for many years to undermine the Consitutional right of the American people to be able to claim bankruptcy protection. In 2005 the banking lobby successfully convinced Congress and the President to make the laws and proceedures more complicated, hopeing that it will stymie legitimate people from filing bankruptcy. They succeeded in gaining these complex new legal proceedures by greasing the legislative system with hundreds of millions of dollars in "campaign contributions." The good news for the American people is that while the new laws have made the proceedures needlessly complex to the point where inexperienced people can't help but trip over the maze of new rules and regulations, the process is still doable, especially with a lawyer who is well trained and experienced in this specialty.
Past/Present Clients
I have probably handled something on the order of about 15,000 bankruptcy cases thropughout my career.
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