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Spouse threatening to file bankruptcy

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  • Spouse threatening to file bankruptcy

    Hi I am new to these forums. I have been separated from my husband since December 31/06 and we are in the process of finalizing all issues in a legal separation agreement. All issues have been agreed upon including the dollar amount that he is to pay to buy me out of our marital home. The agreement was to be signed today; however, he just called me threatening bankruptcy if I don't lower the $$$$ amount that he is to pay. The home has been appraised and the $$$ amount is 1/2 of the value of the house (the house is not encumbered by a mortgage). He has already been approved for the financing to buy me out and consolidate all his debts. He has alot of money tied up in assets and does not realize that there is only so much he can keep and the rest will be seized and sold to pay his debt. I can't get in to see my lawyer till the end of the week and wondered if anyone can offer me any advise.

    Thank you

  • #2
    You co-own a house mortgage free? Then he is bluffing. He would lose substantially were he to file. Assuming you are assigning a REASONABLE dollar figure to the home, call the bluff and make him pay you half.


    • #3
      I agree with Sk8r.
      I think his is just trying to get out of paying a reasonable amount.
      IE: Play the bankruptcy card and she'll lower the dollar amount so she doesn't loose out completely.
      It will indeed look bad for him to proceed with this should he be serious.
      I think the courts would still reward the agreed upon amount if it is within market value and reasonable.


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