Legal Question in Bankruptcy in North Carolina

I have a bankruptcy question. I have decided that it is going to be necessary for me to file bankruptcy. I have a question about my home. My wife and I divorced in 2008, We used an affordable Divorce Clinic located in Charlotte and everything was handled by mail. She moved out of our home and left me holding the bag with the mortgage. Her name is on the loan for the house and I cannot financially afford to refinance it to get her name off of my financial/credit status. I need to know what options I have if I choose to file bankruptcy.


Asked on 2/09/11, 9:26 am

2 Answer from Attorneys
Thomas Zimmerman Zimmerman Law Office

A divorced person who files bankruptcy must take the separation agreement to a lawyer. If a joint marital debt assumed by you is deemed to be "in the nature of alimony or child support" and your discharge causes her to remain the only obligor, then it is possible for her to object to your discharge of this debt. Otherwise, a bankruptcy will discharge your legal obligation to the creditor. Of course, there may be other alternatives, including short sale, allowing foreclosure and wait to see the sales price and whether the creditor actually seeks a deficiency judgment. Your bankruptcy lawyer will be able to plot out the various alternate results.

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Answered on 2/09/11, 11:06 am


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