Bankruptcy and ex-husband

Letter to “Ask Leon”

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 retag 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?

Leon Says…

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 marriage dissolution settlements and judgments 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 spouse sign over the asset, and you are 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.