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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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Old 09-27-2016, 12:26 AM
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Default Do all finances have to be arranged for final agreement

Just wondering about how important it is for finances to be taken care of to get a seperation agreement finalized and a divorce done, almost have the situation setup to try and work towards finalizing a seperation agreement. I understand child support is the major one.

The one thing I am concerned about is a house in the ex's and her mother name as well as mine. This house was foreclosed and is on the market right now by the bank. I took care of the whole financial situation to do with the house etc....but only in terms of the creditors and not the other 2 women on title. They ignored and still do hide and ignore anything sent to them that has to do with that house/mortgage.

I had to deal with the financial situation due to needing to have a stable financial situation to raise my kids and keep a roof over their heads and keep from suddenly having my bank account emptied.

Is this a major thing that has to be dealt with still through the divorce or is it a situation now that can be ignored, or do I just wait until that house is sold etc. Just wondering about this weird situation, I assume neither of them can run and hide and then cry later for money, neither can I. I did make an effort to try and sell before defaulting, but warning the others on title about me missing payments etc...and keeping them in the loop as best possible.

Even if the place does sell, does the house come into play in the final seperation/divorce? I know the others will play their games and try to see if they can sue me later...or go after me again for half of the debt they or at least the ex is getting chase for.
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Old 09-27-2016, 08:35 AM
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I'm not familiar with foreclosure, but doesn't that mean the bank owns it now and it's no longer an asset/liability for you to worry about on disclosure?
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Old 09-27-2016, 08:57 AM
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Quote:
Originally Posted by Rioe View Post
I'm not familiar with foreclosure, but doesn't that mean the bank owns it now and it's no longer an asset/liability for you to worry about on disclosure?
That's what I was hoping, I have been scouring the internet and have found nothing concrete to compare to. It is just that she is going to have cmhc knocking on her door I believe looking for the money they lost to pay the bank sooner or later, she will probably try her best to go after me for half of that even though I settled my part already with the creditors. A judge might see that differently as it was part of the marriage, even though I paid payments into it for 2 extra years after she left...the ex has already suggested I should owe my part of the debt of the house before she settles...which is scaring me, probably a scare tactic to get a cash settlement to avoid trial and settle. Nothing like finishing your insolvency and then getting dinged for the same thing over again.

I might have to wait until I can get some solid advice from a solid lawyer....except they seem to like stretching out these situations.
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Old 09-27-2016, 10:40 AM
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Find a lawyer with a good grasp of insolvency and accounting issues. You might be better off finding a bankruptcy lawyer with some knowledge of family law instead of the other way around for this issue.
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Old 09-27-2016, 10:57 AM
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The last lawyer I had on retainer used to work in the field of insolvency before family law, and my last visit with him I forgot exactly what terminology he used but he could not give me solid legal advice because of a conflict of interest that arrised due to his firm now being involved with the bank/foreclosure, but he told me the 2 ways foreclosure can play out, and suggested that the other 2 parties are fully aware of what is going on, they have no real grounds to ask for anything of me.

I had a hard time getting a straight answer out of him whether I would be free from further problems in that situation once dealt with creditors.

Will get another opinion in the new year when I can abuse the free one hour legal advice thing provided through work.

The funny thing is the trustee said the same thing to me as the lawyer when I asked her about the ex coming back at me after foreclosure, she said on what grounds? I was not sure how to respond to that.

Last edited by undersc0re; 09-27-2016 at 11:02 AM.
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