Time to file

[copperarab]

I just finished a 2-year long divorce. I gave him the house along with the larger assets (401k, furnishings, tools, etc) and took the 60k in debts (all in my name). I was awarded my 2005 car that is titled in his name only and he is solely on the loan.

I plan to file a chap 7 in the next few weeks. The marital home is still jointly owned with my name on both the deed and mortgage along with the ex's. My divorce decree states he has ownership and the debt of the home and to try, in good faith, to refi or sell the home in 18 months to remove my name.

QUESTION: On the forms, do I add the home as an asset and then list the debt involved (mortgage)? I have not lived in this residence for over 2 years.

QUESTION: My car still has 7k to pay off but the ex has to make the payments. I am not on the loan nor on the title. Do I list this vehicle on the bk forms at all? I use it daily and pay for all upkeep and repair.

There is money owed the IRS from 2006. It was from a clerical error, has not been paid to date, but the divorce lists the ex as the one to pay the bill. I was unemployed at the time and for several years prior to 2006 though we did file jointly.

QUESTION: How best to handle this in filing chap 7?

I have been living with a bf for a year now. I am not on the lease. Up until 4 months ago he supported me. I started working back in June and have been paying for half of everything. Two months ago he lost his job and is on umemployment so I have been paying the bigger share of expenses including his bills. His avg wages were about 32k a year but he netted a lot less due to garnishments. Now he gets about $1000 per month in unemployment. I average $1600 per month working full time.

QUESTION: What do I use regarding 'family/household' size? Am I a one-person household or two? And if two, do I list all his assets and debts?

Okay... theres a few starter questions...I am still reading lots and do appreciate any and all answers!!!

THANKS!!!!!!!

[debttaxguy]

You really should talk to a bankruptcy lawyer and not file this yourself. In terms of means test household size, most judges use the heads in beds test for the household size. US Trustee looks at who is on the tax return when it comes to dependents in household size. I think you may have some preferential insider payment problems that an attorney needs to look at. It looks like you transferred all the assets to him and you kept the debt. Even in divorce you can't just stack the deck with asset transfers to avoid the trustee from recovering assets. When preferential transfers are made to a spouse considered to be an insider, the trustee can go back two years and recover property. House is still in both names so you list it as jointly owned with the associated debt.

[copperarab]

Thanks debttaxguy for answering me.

To clarify, I moved out of the marital home in Sept 2007 leaving most items behind as I moved into a tiny apt. In the Nov 2007 Temp Hearing the judge ruled that housings/cars/personal belongings to remain in each owns possession until the final divorce hearing which just came about last month.

So basically the assets I gave up happened 2 years ago..well before I decided to file bk.

[whipster]

I think you are fine, I just went thru a 7 and you just need to list everyone who may think you owe them $$ including the Ex. The D decree set out the debt as far as the state is concerned but not as far as the creditors.

You should get your own car in your name and get away from the ex. The car can go back unless the ex wants it. It is your asset but if your ex stops paying they can come and get it.

You must list the household income unless you are renting...wink wink.

[copperarab]

Howdy whipster!

I had forgot to mention that my divorce attorney is going to handle my bk. We have gotten to know each other pretty well over the past 2 years and he knows all about what I have and what I don't.

I have been working on a list of my assets (not much mind you...less than 2k) and my liabilities (in the 60k range) and have set up an appt. to get the ball rolling. I am lucky in that I do not have any repos nor judgements at this time, but my once good credit is wayyyy shot. During the Temp Hearing the judge ordered the ex to pay on the cc debts which he did not. I never pushed for contempt..maybe I should have.

I have my credit report plus some medical bills that are recent. I am a bit worried about the new bills, they are the remainders of what my now-ended insurance didnt pay..but the MRI and Radiology was set up/ordered by my doctor, so I hope they do not raise an eyebrow. I used my med coverage as much as possible before it ended 2 weeks ago. I do not owe the ex anything.

So, do I list the car in the bk under assets even though it is NOT in my name nor is the car loan?

Yes, I pay half of all bills and food and it is a small rental apt.