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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 10-19-2016, 01:24 AM
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Hello,
Is there a clause for bankruptcy protection should your ex declare bankruptcy. Please share. I'm terrified my ex has or will declare bankruptcy. Thank you!
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Old 10-19-2016, 07:54 AM
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why do you care if your ex files or filed for bankruptcy?
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Old 10-19-2016, 07:58 AM
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seperation agreements > bankruptcy protection. (whereas judgements < bankruptcy protection).

Obviously spousal and child support are due no matter what.

If you want protection from bankruptcy write everything up as a form of support payment.
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Old 10-19-2016, 09:10 AM
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Quote:
Originally Posted by Links17 View Post
If you want protection from bankruptcy write everything up as a form of support payment.
That is how Arabian got around her ex's bankruptcy
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Old 10-20-2016, 06:05 AM
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I don't understand - what did she write up??

I'm in this situation too. The other side is claiming financial hardship. He makes $117k, I make $45k. He has a previous child to pay for, plus our child. I have two previous children I care for. He has an extreme amount of debt. But he also has two houses...
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Old 10-20-2016, 06:05 AM
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My respondent will be claiming bankruptcy or a consumer proposal



Quote:
Originally Posted by Bellbaby View Post
I don't understand - what did she write up??

I'm in this situation too. The other side is claiming financial hardship. He makes $117k, I make $45k. He has a previous child to pay for, plus our child. I have two previous children I care for. He has an extreme amount of debt. But he also has two houses...
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Old 10-20-2016, 03:32 PM
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If they declare bankruptcy you become another creditor in the pool as far equalization goes. However child support (mostly) and spousal support (pretty sure) cannot be discharged through bankruptcy, not even arrears. If you put in a claim for support payments to the trustee you will be placed close to the top of the pile when it comes to repayment.
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