Mercedes, TX Bankruptcy Law Firms & Lawyers

If you are on the credit card, it doesn't matter what your divorce decree says you're liable to the creditor. If your decree obligates your ex-spouse, your only recourse is to sue her on that contract the divorce decree. Bankruptcy, if you qualify, will discharge the debt but leave your obligations under the decree unchanged.

You and your ex can both file for bankruptcy, but you would have to do it as individual filers, not as joint or married filers. The good news is that an attorney can prepare petitions for both you and your ex-wife at the same time & save both of you money.

In my practice, I've found that most couples can buy a house at reasonable interest in two years after filing a Chapter 7. You'll need to reestablish your credit. That means you have to make your payments on time to a business that reports to the credit agencies. For example, you're renting an apartment or a house, you pay utilities but most landlords and utilities don't report to the credit agencies. Car loans and credit cards generally report, so if you have a car loan, you're rebuilding your credit just by making the payments. When you filed bankruptcy, you received a swarm of car loan and credit card offers - many of these are ripoffs but you should look at them and if there is a low limit credit card with a good interest rate (in your case consider 18% a good interest rate), then apply and make the payment every month.