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gamestar10 · Sep 10, 2006, 09:43 PM

Greetings! Here's my situation. I am 1 month away from divorce trial. I have been in Chapter 13 bankruptcy and made all my payments for the last 16 months. My duration is 42 months. My wife is the co-petitioner on the Ch 13. We were exempted $40,000 on the equity of our home. The current equity is appx $65,000.

Our agreement thus far is to sell the house upon divorce and split the equity. My question is, does the $25,000 that was not exempted in the bankruptcy go to the trustee? How does the absence of the house payment affect our bankruptcy and since she's asking for 1/2 of my paycheck every month for 4 years, how does it affect the bankruptcy as a whole?

Ok, OK... 3 questions. :)

Thanks so much.

Eric

Fr_Chuck · Sep 11, 2006, 06:08 AM

Your entire money situation will change, both of you will have new bils, each will have electric bills, gas bills, you will each have rent to pay.

Please talk to your bankruptcy attorney, since this will effect your bankruptcy