I need to file for bankruptcy?

Question

I have a home w/ a man who I was living with he WAS my boyfriend, he has since moved out and left me w/ the house. I am having trouble with all the bills now because I have been left to pay for everything. My car just got repoed, and I am current on the mortgage, but I am late on credit cards, and utilities.

Where do I start? I can't refinance and get his name off the mortgage the lending co. won't just finance me alone. I can't sell it, (I had it on the market 6 months) even in a short sale, because the market is so bad. I owe about 40 K more than it's worth. At the time of purchase I bought it when the market was at it's peak in home prices.

Can I get his name off w/ o refinancing? Or can I file for bankruptcy? Do I have any legal grounds to go after the Ex Boyfriend who's name is still on there??

Answer 1

You need to seek a qualified bankruptcy attorney in your area, most will see you on a first free consultation, or first free hour. They will need to look at all your debts, income, assets and last 4 years of taxes to determine what you would qualify for. Bankruptcy should be your last resort, but....with keeping the mortgage current, you could re-affirm on the loan if you qualify for a chapter 7, you can keep it as well if you qualify only for a chapter 13. As far as the repo, they will auction it off, and if they sell it you will be responsible for what they call a deficiency balance, which can be worth more than what it's worth, bankruptcy will wipe that out. An attorney can advise you on what to do about your ex's status in all your bills, make sure you bring with you any and all paperwork that would have you listed jointly, they will be able to tell you what will fall back on him financially. If you file a bankruptcy and his name is on the loan as a co-signor or joint applicant, you are protected thru the bankruptcy, they will go after him for the debt. If you have any questions you can email me.

Good Luck!

Answer 2

Hi,

I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here:

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Answer 3

You need to talk to a lawyer, NOW. I’m assuming your ex is on the mortgage and deed to the house, in which case if you managed to pay the mortgage off he would own half the house.

You need to sit down and talk about your options, on some things you may have legal grounds to go after the ex but depending on his finances it might not be worth it.  Don’t just walk away from the house without talking to a lawyer first, you might find yourself paying that 40K or more.

If you do end up filing and your ex is on the paper they will go after him after all he agreed to pay too.

Good luck and see a lawyer.